#shorts On 2/17/2023, a reporter asked White House press secretary Karine Jean-Pierre, “ask you about credit card debt. A New York Federal Reserve study now shows that Americans’ credit card debt reached a record level. It also shows that delinquencies are up with that credit card debt, as well as delinquencies on auto loans. Is the President concerned that we’re seeing a crack in the economic foundation because of inflation?

MS. JEAN-PIERRE: So just two things about — about that particular report. So the report does not just measure borrowing, it measures credit card balances, including spending that it’s paid off every month. So that’s important to note …

Reporter: So the President doesn’t see weakness, then, in the overall economy?

MS. JEAN-PIERRE: No. If anything, I just mentioned where we are. We’re — I mean, if you look at past indicators that I just laid out, whether it’s household, whether it’s mortgage delinquency, we are at levels that we were pre-pandemic. And so I think that matters. And let’s not forget, we were talking about the economy moments ago. A lot of that is because of the work that this President has done on the economy, because of his economic policy

other clips of this published longer video is here: https://youtu.be/5tVbZrWgp3k
Q: credit card debt reached record level, Biden doesn’t see weakness? A: No, because of his economic policy