Fox News’ Dr. Nicole Saphier recently discussed how the current economy under the Biden Administration is impacting the spending habits of younger generations on ‘The Big Weekend Show.’ According to Saphier, Gen Z and Millennials are increasingly resorting to buying essential items on credit, leading to a surge in purchases now and payments later.
The rising inflation has caused prices to skyrocket, with items like contact lenses, lighter fluid, laptop parts, and sleep apnea aids seeing a cost increase of over 300%. This trend has forced many younger individuals to rely on credit cards to make ends meet.
Fox News correspondent Anita Vogel highlighted the financial struggles faced by younger generations, who are now meticulously budgeting their expenses to cover essentials like rent, mortgage, healthcare, and retirement savings. The cost of raising a child, estimated at $300,000, has become a distant dream for many in the face of mounting financial pressures.
The discussion also touched upon the influence of dark money in politics, with Fox News contributor Guy Benson pointing out the hypocrisy of certain political parties decrying dark money while benefiting from it. The use of dark money to sway voters in the lead-up to elections was also highlighted as a key strategy in modern politics.
As inflation continues to impact the economy, the younger generation is feeling the pinch and turning to credit cards to make essential purchases. The financial strain is reshaping spending habits and raising questions about the feasibility of starting a family in the current economic climate.
