Young generations attempt to mitigate inflation costs by opting to use their credit cards to purchase essential goods.
Fox News’ Dr. Nicole Saphier discussed on Sunday how the present day economy under the Biden Administration is affecting younger generations’ spending habits alongside co-hosts on ‘The Big Weekend Show.’
“Gen Z and Millennials seem to be paying their fair share in Biden’s economy. They are buying now and paying later for daily essentials. In fact, they’re doing it a lot more,” Saphier said.
While contact lenses have gone up 465% in price from last year, other items like lighter fluid, laptop parts and sleep apnea aids surpass a 300% cost increase.
“People are out there realizing that everything is very expensive. They can’t buy gas. They can’t buy these goods and services that you’re talking about. So, they’re putting it all on credit cards. That’s what’s going to hurt Joe Biden,” Fox News radio host Tom Shillue said.
Fox News correspondent Anita Vogel, added, “I find that today, the younger generation, the Gen Zers and the Millennials, they’re very cost conscious about these things. I know many of them, and I see them. They make spreadsheets. How much can you spend? How much are they going to be able to spend on rent, on mortgage, on health care, on retirement savings?”
Amid rising inflation forcing younger generations to purchase essential goods on credit cards, the last thing many consider is child-rearing.
“[Can they] afford to have children? A lot of them are just saying, hey, it’s $300,000, according to some surveys, to raise one child – that’s out now for them,” Vogel commented.
“Right now there is this nonprofit group backed by these two owners, McClave and Berger, and they gave Joe Biden’s campaign $7.2 million,” Saphier added.
“If you’re donating to campaigns or political parties, there’s all sorts of limits, but there’s a workaround which is often decried, ironically by the left, as dark money, when in fact they themselves are the biggest beneficiaries and practitioners of dark money politics in America,” Fox News contributor Guy Benson stated.