Official Boasts Credit Card Spending Is 'through the Roof'

Thursday, May 07, 2026

A senior Trump official has boasted that Americans' credit card spending is "through the roof" as millions across the country grapple with soaring costs of living including high gas prices, a slow job market and inflation.

Posted by lamplighter at 11:33 PM | 15 COMMENTS | permalink | Comment on This Entry |

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Hassett on American consumers: "Credit card spending is through the roof. They're spending more on gasoline, but they're spending more on everything else too."

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-- Aaron Rupar (@atrupar.com) May 6, 2026 at 9:19 AM

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... After stating that the jobs market is going to be "very, very strong," Hassett, the president's top economic advisor, continued: "In fact, I had the head of one of the big five banks in my office yesterday going through the credit card data.

"And just as Secretary [Scott] Bessent said, credit card spending is through the roof. They're spending more on gasoline, but they're spending more on everything else, too."

The backlash to Hassett's remarks was immediate. "Working class Americans are maxing out their credit cards to pay for groceries and gas," Democratic Representative and House Minority Leader, Hakeem Jeffries, posted on X. "The Trump Cartel thinks this is something to celebrate. Shameful." ...

#1 | Posted by LampLighter at 2026-05-07 05:48 PM | Reply

Not the flex he thinks it is.

#2 | Posted by LegallyYourDead at 2026-05-07 06:37 PM | Reply

WE'RE SPENDING MORE ON EVERYTHING BECAUSE EVERYTHING IS MORE EXPENSIVE, YOU DOLT

#3 | Posted by LegallyYourDead at 2026-05-07 06:38 PM | Reply

These mooks are math morons. Credit card balances are soaring, and that's a GOOD thing?!?

No wonder they can't understand percentages.

#4 | Posted by Danforth at 2026-05-08 12:02 AM | Reply

Credit card balances are soaring, and that's a GOOD thing?!?

It depends who you are.

#5 | Posted by REDIAL at 2026-05-08 12:09 AM | Reply

He's so pleased.

#6 | Posted by fresno500 at 2026-05-08 12:13 AM | Reply

"It depends who you are."

True.

And Scott Bessent wonders why folks just don't sell one of their six houses to pay the bill.

#7 | Posted by Danforth at 2026-05-08 12:17 AM | Reply

The Trump administration is made up of nothing but wealthy elites who are tone deaf to the everyday economic challenges THEY'VE caused with wars of choice and tariffs.

#8 | Posted by AMERICANUNITY at 2026-05-08 12:23 AM | Reply

They've accomplished nothing positive on behalf of America or Americans. They've only stripped positives that benefited 99% of us.

Only Wall Street-types have benefited.

Hey, America's history is taking two steps forward and one step back. We could be reaching a turning point after Bush and Trump. Gen X and Z realize that thanks to Republicans the American Dream is out of reach. A tidal wave in November could be the start of a period all of us let all of them know this is a democracy, and the majority of us haven't benefited as billionaires build bigger megayachts and take more and more.

#9 | Posted by AMERICANUNITY at 2026-05-08 12:31 AM | Reply

Millionaires, Bazillionaires,
Have no concept of how the rest of the world lives, The disconnect from the reality that 95% of us live,
We need real people in these high offices, People who grew up poor, Who worked hard, Who know the difficulties, Who have had the struggle,
Those are the kind of people that we need in office, Ones who don't forget where and what they came from, Who want better for everyone,
These wealthy people don't give a single s*%t about any of us, We are merely cogs in their wheels that earns their money, They get wealthy, We barely survive, And when one of their cogs wears out or has a problem, Tossed away like trash, Replaced by the next machine part to burn through

#10 | Posted by gypsydiane8177 at 2026-05-08 07:43 AM | Reply

Credit card balances are soaring, and that's a GOOD thing?!?
It depends who you are.

#5 | Posted by REDIAL at 2026-05-08 12:09 AM | Reply

The amount of Americans that are FINANCING their weekly grocery purchases has doubled in the past year.

This is a windfall for banks and their billionaire CEO's.

The US government is running a $2 TRILLION deficit because of tax cuts to the same billionaires. They then buy up US treasuries to fund the deficit. So now they are earning interest off of the tax cuts they got.

This entire K shaped economy has been rigged for the 1% to flourish at the expense of the rest.

But yeah, Hassett will come out and tell the public to enjoy the shit sandwich they're serving before they take it away.

Just wait until the "we can no longer afford to pay social security benefits" deficit "hawks" come out. They're just hiding until after the mid terms.

#11 | Posted by Nixon at 2026-05-08 09:37 AM | Reply | Newsworthy 3

Only Wall Street-types have benefited.

That has been the goal of the GOP for the last fifty years.

The people that voted for it were dumb enough to believe them when they said they were going to lower prices.

I see it now in NY with the MAGAt candidate saying he is going to "cut utility prices in half".

#12 | Posted by Nixon at 2026-05-08 09:39 AM | Reply

It depends who you are.

#5 | Posted by REDIAL

I keep saying it's dumb reporting these WTF moments as if they're mistakes or these people are just mindless goobers innocently stating ominous signs as good things.

They are not mistakes. They are not gaffes. They are not naive.

They are looking at this through a different lens than the rest of us. They flat out told us we would have to endure some pain, remember?

#13 | Posted by jpw at 2026-05-08 10:09 AM | Reply

That's not directed at you, redial. I just used your post as a starting point since people and the media are still looking at these people like they're simply misguided but wrong.

#14 | Posted by jpw at 2026-05-08 10:10 AM | Reply

Just wait until the "we can no longer afford to pay social security benefits" deficit "hawks" come out. They're just hiding until after the mid terms.

#11 | Posted by Nixon

Austerity begins January 2027.

#15 | Posted by jpw at 2026-05-08 10:12 AM | Reply