From the campaign of Republican U.S. Senate candidate Don Tracy:
Household Debt Hits Record High Post-Bidenomics, Don Tracy Vows Relief for Illinois Families
SPRINGFIELD – According to data released this week by the Federal Reserve Bank of New York, Americans’ household debt levels, including mortgages, car loans, credit cards and student loans, are at a record high.
Total household debt reached $18.59 trillion in September of this year. Overall debt levels are up by $4.4 trillion since the end of 2019, just before the pandemic recession. Credit card balances have hit an all-time high of $1.23 trillion, student loan debt has ballooned to $1.65 trillion with delinquencies on the rise.
U.S. Senate Candidate Don Tracy responded saying:
“America’s skyrocketing cost of living is not an anomaly. It’s the direct result of President Biden’s failed policies. Reckless Biden spending has driven inflation to 40-year highs. And Democrats continue to push wasteful budgets that will burden working families to keep the extremist wing of their party happy. Throughout the current government shutdown, my opponents Raja Krishnamoorthi, Juliana Stratton and Robin Kelly have repeatedly and enthusiastically advocated for closing the government as leverage to get $1.5T in additional spending, rather than engaging in a responsible bi-partisan negotiating process.
“Illinois working families need someone who will fight for them in Washington. I’ve spent my career fighting for families and small businesses. I’m ready to take that fight to the US Senate, where my top priority will be to lower the cost-of-living.
“I’ll push for common sense solutions that make life more affordable for working families. This includes lowering energy and gas costs, health care costs, taxes, and inflation. I’ll also work to improve the economy and support small businesses, manufacturers, and farmers throughout Illinois.”
