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US consumers increased their borrowing by $28 billion in November | CNN Business

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US consumer borrowing continued its strong upward climb in November, increasing by $27.96 billion from the month before, according to Federal Reserve data

US consumers’ credit-hungry approach to spending continued in November, with borrowing rising by nearly $28 billion, according to Federal Reserve data released Monday. The monthly increase, which was driven by higher rates of revolving credit, was below the $29.12 billion jump seen in October but extends a historic stretch of reliance on debt during a year with soaring inflation. Economists were expecting a $25 billion monthly increase, according to consensus estimates on Refinitiv.

Amid this period of high inflation, consumers have been dipping more into debt for their spending — but they’ve also kept their finances above water, for the most part. However, household balance sheets are showing some signs of weakening, with various pieces of federal data showing delinquencies are on the rise and savings levels are dwindling. “It’s really revolving credit, mostly credit card debt, that’s carrying the day right now,” Rossman said.

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Money they don’t have 😂😂😂😂😂

This is great news for printing money for elites.

IRGCterrorists

Just like Obama pulled us out of the sh!tstorm that was the Bush II Administration, Biden continues to lead us out of the Trump catastrophe. Gas prices... ⬇️ Inflation... ⬇️ Jobs... ⬆️ No lockdowns. No masks. No mandates. And no fake BorderCrisis will change that.

Libs think this is good news

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Watchdog complaint alleges Rep. George Santos committed campaign finance violationsA federal watchdog on Monday urged the Federal Election Commission to investigate Rep. George Santos, R-N.Y., alleging he violated federal campaign finance laws. He invented the iPhone, and was the last man to walk on the moon. No wonder the gop loves him so much. He should be tossed from office immediately for lying to the American People. When will we stand up & make Congress pass legislation that makes it illegal for politicians, elected officials & their staffers to knowingly lie, deceive or propagandize Americans? Oh, so now ya boi is fraudulent with the racks too? -ONE.💰
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