Americans Forced To Take Loans For Basic Necessity

It has now been learned that months of excessive inflation brought on by Joe Biden’s presidency has put Americans in a really bad financial position.

So bad in fact that Americans are now being forced to “buy now, pay later” (BNPL) loans to pay for everything from groceries to gasoline.

According to Fox, the most CPI reading found that fuel, food and rent costs surged by 8.3% in August compared to the previous year.

Now Americans are resorting to “buy now, pay later” (BNPL) loans, these BNPL loans are used primarily by Americans who make less than $50,000 annually and by people who have sub-prime credit scores.

Last year alone an astounding $45.9 billion in BNPL transactions were made according to The New York Times. This was a triple increase compared to 2020.

What’s even worse is that Zip which is a popular BNPL loan app saw a 95% increase in grocery store purchases meaning Americans were taking out loans just to feed themselves.

President Biden and the Democrats need to do something meaningful if they want to get Americans off the dependence of BNPL apps.