Hassett, Ntl Economic Council director, doesnt care about growing credit card delinquencies because companies not hurt
Kevin Hassett, the National Economic Council director, caught heat from political analysts and observers after he made what some described as an "incredible" claim about the financial health
of Americans during a Fox News
interview.
Hassett joined Fox News host Shannon Bream on "Fox News Sunday," where he was asked about a recent report finding that 13% of Americans had delinquent credit card balances, meaning their accounts had become past due. That figure was the highest since the 2008 financial crisis, Bream noted, which Hassett seemed to dismiss altogether in his response.
We talk to the CEOs of the credit card companies in the time, and we do see some stress like the Wall Street Journal pointed out," Hassett said. "But delinquency is different than default and there's not any kind of financial threat to the credit card companies. They don't feel like they're heading towards default scenarios. It's just that people are taking a little bit longer [to pay]."
Hassett's claim was roundly criticized on social media.
Jared Sears, a Navy veteran, wrote on X that Hassett's claim was "incredible."
"Effectively sums up the administration's entire approach to governing: make sure the corporations and the rich are doing well, and forget about everyone else," Sears posted.
"This has all the empathy of someone who learns that people are starving and instinctively calls General Mills to see if they're feeling an earnings pinch this quarter," Rep. Sean Casten (D-IL) posted on X.
https://www.rawstory.com/kevin-hassett-2676978258/#