income folks, more of them say they are worse off than better off. sandra: living paycheck to paycheck for example. here is the problem with the biden administration and folks who think like he thinks. you cannot punish one niche of the economy, people who spend money, put money into the economy. talk about taxing them to death, roadblocks around the business, all you are doing is hurting folks who like to climb the ladder of success themselves. and we see it every time, they go back-to-back to the same policies and now things like delinquencies go up. what was really intriguing, monday we had the consumer credit number and people max out the credit cards last year, $930 billion, a sharp decline. savings are going up, households are hunkering down, they feel something, know something, and no wall street analyst is
we had a major number in the jobs report. the bottom line is, people are there s anxiety out there. legitimate anxiety. your house hold payments as a percentage of disposable income, president biden inherited the lowest number in history. 4%. close to 6% right now. credit cards now are at the highest rate over. $930 billion. interest rates are at the highest level ever. feels like a lot of people are standing on borrowed time right now. martha: lauren, as the president gets ready with the speech, he tweeted this morning with chocolate chip cookies that he was working on it. did biden accomplish a great deal, a good amount, not very much or nothing. 62% say not much or nothing. wow. it was expensive to to that. all of those plans. trillions and trillions of dollars being added in to the
consumer spending and inflation? quite a worrying development there, john. credit card spending was up 18.5 percentage points from a year ago. a record debt of $930 billion for 2022. also bear in mind because the interest rates have been rising, the average credit card rate is about 20% now. if you were to pay the minimum paymentive month, it would take you 17 years to pay off the debt with a 20% interest rate. the reason people are leaning more on their credit cards is simply because of the cost-of-living advices. they re leaning on their credit cards to buy things like food and groceries and in some cases, utility bills. not a good development. joumanna bercetche, thank you for joining us this morning. up next, public criticism for how president biden shot down the balloon off the coast of
out? i believe, i agree with judge pitman who found this was unconstitutional, i do not think the president has authority to cancel this death, it could be up to $930 billion. it will be transferred to all these other people, this is a horrible thing, horrible policy for joe biden to tell young people they don t have to follow through with commitment and responsibilities. 70% said they would spend money on travel and food, vacation and dinners is how they will respond it. congressman, thank you for joining us. ink thats, carley, god bless.
harris: the hits keep coming to the president s student loan hand-out plan. was it a plan, really? the court says it won t hear arguments on the case until february. for now the program will remain blocked to anybody who was counting on it. you aren t getting help. the high court likely won t make a decision whether the bail-out is constitutional until the summer. the wait gets longer. i do not think the president has the authority to cancel this debt. it could be up to $930 billion. it won t be canceled, it will be transferred. it is a horrible policy for joe biden to sit there and tell young people they don t have to follow through with their commitments and responsibilities. harris: he doesn t have that power. it is horrible to break your promises. peter doocy with the latest.