In recent news, a report from Empower’s 2023 holiday spending report, as reported by Fox Business Network, reveals that a whopping 74 percent of Americans are feeling the pinch of Bidenomics this holiday season. Suffering under the weight of Bidenflation, 31 percent say they’re even working overtime just to make ends meet for their holiday shopping. It’s like a jingle bell nightmare out there!
— murt32 🇺🇸 🍀🙏🏽Pray for the people. (@murt32_1943) December 11, 2023
The survey, conducted among 1,003 Americans spanning four generations, brought to light some shocking revelations. Forty-six percent are foregoing travel plans to scrape together more cash for holiday spending, while thirty percent are axing beloved holiday traditions to save some greenbacks. It’s a Christmas crisis, folks!
Empower’s spokesperson, Courtney Burrell, spilled the tea by stating that over a third of those surveyed are tightening their belts and saving every penny, while others are cutting back on non-essential expenses like dining out to make it through the holiday season in one piece. It’s a holly, jolly struggle for many American families this year.
And the hits just keep on coming! It turns out that thirty-seven percent are planning to spend no more than $250 on gifts, with a measly ten percent budgeting a mere $1,000 for the entire gift-giving season. Santa’s workshop is looking pretty bleak this year, folks.
But wait, there’s more! The report also reveals that Americans are waving goodbye to travel plans, with less than half, a paltry 49 percent, intending to travel for the holidays. What’s the reason for this yuletide madness, you ask? Well, it seems that 46 percent have axed travel to save moolah, while 32 percent are steering clear of airplanes due to exorbitant ticket prices, and 24 percent are feeling the burn of soaring gas prices. It’s a Christmas miracle that people can even afford to leave the house at this rate!
But the holiday financial woes don’t stop there. Other reports show that Christmas tree prices have soared by ten percent this year, courtesy of the National Christmas Tree Association and the American Christmas Tree Association. It’s like the Grinch is personally attacking our wallets this year!
And if you thought Thanksgiving dinner was spared from the Bidenomics curse, think again! Thanksgiving dinner prices were up a staggering 25 percent over the costs in 2019, according to the American Farm Bureau Federation. The fixings for Thanksgiving cost $53.31 in 2019, while during the Biden era, the costs soared to a jaw-dropping $64.05. Gobble gobble, that’s a lot of dough for a turkey dinner!
Let’s not forget the icing on this economic disaster cake – the Bureau of Labor Statistics showed a significant rise in inflation in August, marking the second consecutive month of inflation rise. To add insult to injury, median household income plummeted an additional 2.3 percent in 2022. It’s like a holiday-themed horror movie, but real life!
In October, it was also reported that U.S. household debt hit an all-time high of $17.06 trillion, with credit card debt alone reaching a staggering $1 trillion. It’s like the national debt is skyrocketing faster than Santa’s sleigh on Christmas Eve!
The holiday season is looking more like a holiday season of discontent for many Americans, thanks to the economic woes brought on by Biden’s policies. It’s like the ghost of Christmas past, present, and future all rolled into one big financial nightmare. Bah humbug, indeed!