The Democrat National Convention is now underway this week and Democrats are going to work hard to keep their sugar high up since Joe Biden stepped aside and Kamala Harris was arbitrarily anointed as the replacement. There’s one major issue awaiting them that they will have to deal with sooner or later. That issue is the economy which continues to ravage the bank accounts of hard-working families.
According to a new report from a survey conducted by the company Bankrate, around 31% of American families will be forced to go into debt to be able to pay for the school supplies that their children need at the start of this fall semester. The survey was conducted on 2,300 American adults with children who will be attending school this fall, and 31% of them have said they either already have gone into debt for school supplies or will in the coming weeks. These supplies are basic necessities like clothes that fit, pencils, backpacks, and binders.
One Dallas woman, Isabella Canales, shared with Bankrate during the survey that she’s confused how some people can live like this. “I don’t understand how people are living right now,” the 29-year-old from Dallas, Texas shared with the survey conductors. “When you look at the amount that you have to pay for these uniforms and all that stuff, it’s crazy,” the woman added.
Canales has three children and has already spent north of $1,000 for her two oldest daughters to have supplies and clothes for the school year. She also has a big bill to pay for her youngest daughter to attend daycare, which includes items like Lysol wipes and index cards. After all is said and done, the bill for her children’s back-to-school items will be rivaling that of an average rent payment.
According to the U.S. Bureau of Labor Statistics, while prices of school pens and markers are stabilizing in recent months, they still remain anywhere from 15% to 30% higher than they were four years ago.
The back-to-school shopping season is here
According to a recent Bankrate report, nearly one-third (31%) of shoppers say buying supplies for the new school year will push them into debt. The survey polled over 2,300 adults in July.
Back to school shopping is more expensive ⬇️ pic.twitter.com/sqMGJ1nJyO
— Bad Trader (@BadTraderApp) August 19, 2024
Furthermore, the study found that 32% of those surveyed indicated that they are forced to change the way they shop due to astronomical inflation, which makes it impossible for them to buy the items they used from four years ago. Another 28% said they feel pressure to find better deals and rely on coupons to stay within budget.
“I have never been a fan of back-to-school,” Canales had to share with the reporters. “We’re just barely making it by as it is.”
Biden-Harris Economy Forces Americans Into Debt To Get By
According to the FRED Economic Data analysis online, the total credit card debt from all Americans has hit an all time high this month, sitting at $1.06 trillion. This is about 25% higher than at the end of 2019 and before the 2020 pandemic panic. There is some data suggesting that the rate of increase of total credit card debt from Americans is going to plateu, but the burden remains high.
September will mark just two months until the 2024 election is set to arrive, and it will be go-time for both campaigns to make their final pushes to win over undecided voters in key swing states like Michigan, Wisconsin, Pennsylvania, and Arizona. No doubt, the economy will be weighing on the minds of these undecided voters.
As families send their kids off to school once again, they’ll be forced to be reminded of the terrible inflation crisis that has ravaged the nation ever since Joe Biden and Kamala Harris assumed office in January of 2021. The most potent selling point that Donald Trump has with undecided voters is that they might be feeling like they were better off with him than under the Biden-Harris administration.
According to a Fox News report, a top issue for voters in the state of Michigan is the economy. The struggling health of the auto industry has brought increasing anxiety for the citizens there who rely on the heart of the Michigan economy in industrialization. Donald Trump’s connection with the white working-class Americans there is what won him the state in 2016.
In probably the most important state to win this cycle, Pennsylvania, the economy and inflation also ranks as a top issue that is a concern for the voters there. Joe Biden and Kamala Harris have said they are proud of the work they’ve done on the economy, but that sentiment may backfire if the voters in these key states feel as though they were simply better off with Donald Trump as President.
Donald Trump just posted this on Truth Social
Make sure everyone knows this is Kamala Harris’ economy. She is in office RIGHT NOW and has been this whole time. We are living her American Nightmare and drowning in inflation
America Under Kamala Harris: pic.twitter.com/jrlQfp9zwf
— Wall Street Apes (@WallStreetApes) August 18, 2024
The onus is on the Donald Trump campaign, though, to make the case that Kamala Harris at the helm will be four more years of chaos and unpredictability for the finances of American families in these swing states.
Do you know of anyone who is worried about how they are going to afford back-to-school supplies? Feel free to share in the comments below.
