Bidenomics defined by the numbers

US consumers have exhausted their savings:

$2.3 trillion of accumulated savings have been depleted by Americans since August 2021.

In other words, $67.6 billion of savings has been spent by US consumers PER MONTH.

As savings have declined, consumer credit card debt has spiked… pic.twitter.com/R3D1LSq3bL

— The Kobeissi Letter (@KobeissiLetter) June 28, 2024