Top White House economic adviser Kevin Hassett dubiously claimed on Fox Business Wednesday that rising credit card debt is proof the U.S. consumer “is really, really firing on all cylinders.”

Hassett appeared on “Mornings with Maria” to proclaim that, despite rising gas prices due to the Iran war, Americans remain confident in the current economic situation.

After host Maria Bartiromo noted that Treasury Secretary Scott Bessent recently claimed, “the consumer is very strong,” Hassett agreed, saying, “credit card spending is through the roof.”

He added, “They’re spending more on gasoline, but they’re spending more on everything else, too.”

Hassett on American consumers: "Credit card spending is through the roof. They're spending more on gasoline, but they're spending more on everything else too." pic.twitter.com/zayCSaxhwr

Many people on social media didn’t agree with Hassett that increased credit card spending is a sign of consumer confidence ― especially since people often use the cards when they have no savings.

Oh, and the interest on those cards increases the price of goods to consumers.

So, yeah, Hassett was mocked for his spin.

Trump’s economic advisor Kevin Hassett just said credit card spending is “through the roof.”He meant it as good news.Americans are spending more on gas because gas costs $4.54 a gallon.They’re putting the rest on credit cards because their savings are gone.Kevin Hassett… pic.twitter.com/m1UTP97l8N

Subprime auto loan defaults (folks with lower credit scores) with a 60+ days past due rate hit a 32-year record of 6.9% in January 2026 (Fitch data), surpassing the Great Recession highs.Private credit defaults are rising (recent figures around 5.8–9.2%).And Kevin Hassett is…

Credit card debt is up.Inflation is up.Gas prices are up.Medical debt is up.Housing, healthcare and groceries are unaffordable.This isn't a success story for Wall Street.It's a nightmare for working class Americans, brought on by Trump's policies. https://t.co/LD2cgQIyH0

Is this supposed to be a brag? https://t.co/EDtw2UIa7T

Do they understand that this is not a good thing? https://t.co/2rngKsQsJX

What a moron. An ignorant, smirking moron - almost as out of touch as his cohort Bessent. These f*ckers watch people incur high-interest debt with glee, and are so punch drunk with non-reality, that they go on air and infer that this is a good thing.

“Things are going so well that Americans are spending money they don’t even HAVE because they’ve already spent all the money they DID have!”

The administration is going on tv to celebrate spiraling credit card debt across the country. https://t.co/KQvyc8DVho

Make this guy the spokesperson for the entire Republican party https://t.co/8yEF59kLbZ

Hassett has gone to extreme lengths in the past to put a positive spin on his fearless leader’s economic policies.

In December, he claimed the stats in a Labor Department report showing the number of layoffs across the U.S. was at a two-year high looked worse than they actually were due to “a problem with the way the surveys work.”

He was mocked on social media in November after he boasted that the 19 cent decrease in the cost of a Thanksgiving turkey was proof that Trump was doing a good job with the economy.

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