Top White House economic adviser Kevin Hassett says increasing credit card debt is a good sign.

[Crepitus]

How blind can you get? This is the exact opposite of reality. Credit card spending is going up because people cannot afford things they have to have. Like gas to get to work, for instance.

Is he really that stupid or is it just a very poor attempt at spin? 'Cause I don't think even the die-hard trump supporters are that gullible.

But you never know, I guess.

Trump Official Brags People Are Surviving On Credit Cards: ‘Spending Is Through The Roof!’

Many social media users disagreed with Kevin Hassett’s notion that increased credit card spending signals consumer confidence.

www.yahoo.com

 

[odanny]

Is he really that stupid or is it just a very poor attempt at spin

He is really that stupid. If Trump said this, we would not wonder why.

 

[georgephillip]

How blind can you get? This is the exact opposite of reality. Credit card spending is going up because people cannot afford things they have to have. Like gas to get to work, for instance.

Is he really that stupid or is it just a very poor attempt at spin? 'Cause I don't think even the die-hard trump supporters are that gullible.

But you never know, I guess.

Trump Official Brags People Are Surviving On Credit Cards: ‘Spending Is Through The Roof!’

Many social media users disagreed with Kevin Hassett’s notion that increased credit card spending signals consumer confidence.

www.yahoo.com

Based on Kevin Hassett's economic pedigree, he knows he is lying:

Kevin Hassett - Wikipedia

"Hassett is from Greenfield, Massachusetts, where he graduated from Greenfield High School.

"He attended Swarthmore College where he was captain of the varsity track team and graduated summa cum laude with a Bachelor of Arts degree in economics in 1984, followed by a PhD in economics (focusing on applied econometrics) from the University of Pennsylvania under the supervision of Alan J. Auerbach."

 

[SassyIrishLass]

Likely why the United States is around 39 trillion in debt.

Side note, both sides got us here

 

[Winco]

How blind can you get? This is the exact opposite of reality. Credit card spending is going up because people cannot afford things they have to have. Like gas to get to work, for instance.

There are other reasons too.

My check(s) go into my account, and I charge almost everything, then I pay it off before the billing cycle ends.
I want to air miles.

I just booked a round trip flight from Sea to SA, for 2, for 75,000 Miles, plus like $12 though my Alaska Airline Card.
Otherwise the Round Trip Cost would have been over $1,000.

So YES, I contribute to the credit card spending, not out of need, but for the Miles.

 

[frigidweirdo]

How blind can you get? This is the exact opposite of reality. Credit card spending is going up because people cannot afford things they have to have. Like gas to get to work, for instance.

Is he really that stupid or is it just a very poor attempt at spin? 'Cause I don't think even the die-hard trump supporters are that gullible.

But you never know, I guess.

Trump Official Brags People Are Surviving On Credit Cards: ‘Spending Is Through The Roof!’

Many social media users disagreed with Kevin Hassett’s notion that increased credit card spending signals consumer confidence.

www.yahoo.com

Good for WHO?

The rich? Yes. They'll get richer.

Who runs the government?

 

[odanny]

Based on Kevin Hassett's economic pedigree, he knows he is lying:

Kevin Hassett - Wikipedia

"Hassett is from Greenfield, Massachusetts, where he graduated from Greenfield High School.

"He attended Swarthmore College where he was captain of the varsity track team and graduated summa cum laude with a Bachelor of Arts degree in economics in 1984, followed by a PhD in economics (focusing on applied econometrics) from the University of Pennsylvania under the supervision of Alan J. Auerbach."

I retract my earlier statement, he is not stupid, he is just a liar, and of low moral character.

 

[georgephillip]

Trump is probably ignorant of how his economic policies determine who enforces debt payments; the economist Michael Hudson traces the current management to the Fall of the Roman Republic when creditors seized control of government by assassinating Julius Caesar.

GoogleAI Overview:

"Economist Michael Hudson argues that modern economies are dominated by a 'financial oligarchy' where creditors, rather than governments, control policy to enforce debt payments. This system forces governments to prioritize austerity, privatization, and interest payments over public welfare, which Hudson calls "financial colonialism."

 

[C_Clayton_Jones]

Is he really that stupid or is it just a very poor attempt at spin?

Both.

So much for Republicans being the party of ‘fiscal responsibility.’

 

[Crepitus]

Good for WHO?

The rich? Yes. They'll get richer.

Who runs the government?

Point!

 

[frigidweirdo]

Point!

The point is that things often happen in US politics because rich people want it that way.

The solution for your average American.

Support Proportional Representation.

 

[Leo123]

How blind can you get? This is the exact opposite of reality. Credit card spending is going up because people cannot afford things they have to have. Like gas to get to work, for instance.

Is he really that stupid or is it just a very poor attempt at spin? 'Cause I don't think even the die-hard trump supporters are that gullible.

But you never know, I guess.

Trump Official Brags People Are Surviving On Credit Cards: ‘Spending Is Through The Roof!’

Many social media users disagreed with Kevin Hassett’s notion that increased credit card spending signals consumer confidence.

www.yahoo.com

If you don't like it, it must be a good sign of a healthy economy. Your track record is full of TDS B.S. Did you know that if you charge shit and miss your payment, your chances of getting another card get slimmer and slimmer? Soon no one will extend you credit without solid collateral, such as signing over your paycheck, maybe putting your car or other items in hock. An uptick in credit card usage means people are more solvent. You loon.

 

[1srelluc]

Huh, I note that when folks were running up their CCs to pay for everyday things under Biden you did not hear a peep from the dems.

Add to that most people pay for everyday things with a CC these days, you just have to have the will/means/personal responsibility to pay them off every month.

I seldom use a CC but I know I'm out of step along those lines these days.

 

[Zincwarrior]

He is really that stupid. If Trump said this, we would not wonder why.

No, he was a senior economist at the Fed. He is no idiot. But he is a liar.

Also he reminds of the energy vampire from What We Do in the Shadows.

 

[initforme]

Using the logic the national debt must be a good thing?

 

[Crepitus]

If you don't like it, it must be a good sign of a healthy economy. Your track record is full of TDS B.S. Did you know that if you charge shit and miss your payment, your chances of getting another card get slimmer and slimmer? Soon no one will extend you credit without solid collateral, such as signing over your paycheck, maybe putting your car or other items in hock. An uptick in credit card usage means people are more solvent. You loon.

That's so stupid it's actually funny.

 

[Leo123]

That's so stupid it's actually funny.

Exactly what is so 'stupid' about it. Come on, put up or STFU and go away.

 

[Crepitus]

Exactly what is so 'stupid' about it. Come on, put up or STFU and go away.

Credit card delinquency is up, not down. The number of people with maxed out cards is up as well. People are also saving less.

All of those are indication that the spending bump is not a good thing. People are financing essentials at high interest rates, resorting to credit to make ends meet, not for fun stuff.

High usage is a red flag on your credit report, BTW. If you are using more than 30% of your limit they downgrade you.

Using credit cards decreases solvency by adding debt.

You need to add a class on basic economics to go with the civics class.

 

[Leo123]

Credit card delinquency is up, not down. The number of people with maxed out cards is up as well. People are also saving less.

All of those are indication that the spending bump is not a good thing. People are financing essentials at high interest rates, resorting to credit to make ends meet, not for fun stuff.

High usage is a red flag on your credit report, BTW. If you are using more than 30% of your limit they downgrade you.

Using credit cards decreases solvency by adding debt.

You need to add a class on basic economics to go with the civics class.

Hassett was not talking about delinquency. You have tried to change the subject. Hassett was talking about credit card debt which is what one takes on every time they use their credit card. If debt is up, credit card usage is up but that doesn't mean desperation, you're just trying to make your opinion fact.

High CC usage is a red flag because it most often indicates a stolen credit card. Also, credit reports don't rely on high usage alone.

General comments like 'using credit cards decreases solvency by adding debt' is nothing but word salad. If one uses credit to buy a car, let's say, how is that supposed to decrease their solvency? Could there be 0 benefits to owning a car? What if you need something to enhance your income but don't have the money to buy it? Is using a credit card for hat purchase going to make one become insolvent?

As far a delinquency, you are full of shit

"Trends in credit performance in recent quarters"​

"These trends appear to have been fading in the recent quarters. As can be seen in figure 1, the seasonally adjusted credit card delinquency rate declined, on net. Meanwhile, the seasonally adjusted auto loan delinquency rate was about flat from early 2024 through the second quarter of 2025, but inched up in the third quarter. In addition, year-over-year changes in delinquency rates, which are unaffected by any potential distortions associated with seasonal adjustment, decelerated substantially since their respective peaks in 2023:Q2 and 2022:Q2 (figure 3). In 2025:Q1, both the credit card and auto delinquency rates were—for the first time since the pandemic ended—roughly unchanged or lower than a year earlier, although the rates inched up for auto loans in the second and third quarters."

A Note on Recent Dynamics of Consumer Delinquency Rates

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

 

[initforme]

Delinquency on a credit card should not be held against anyone.