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National Economic Council Director Kevin Hassett sparked a wave of criticism from prominent Democrats and pundits on the left on Wednesday when he boasted of Americans spending more on their credit cards.
Hassett made the remark while discussing the job market with Fox Business host Maria Bartiromo. Hassett made the case that unemployment is unlikely to go up because of all the spending in the economy. His remarks, however, were also widely interpreted as a boast about increasing consumer prices – especially at the gas pump.
“ In fact, I had the head of one of the big five banks in my office yesterday going through the credit card data. And just as Secretary [Scott] Bessent said, credit card spending is through the roof. They’re spending more on gasoline, but they’re spending more on everything else, too. And so in terms of the jobs picture for the rest of the year, it’s really hard to see having the unemployment rate go up, for example,” Hassett said as part of a longer answer.
Hassett’s remark was quickly clipped and went viral on social media.
Sen. Bernie Sanders (I-VT) shared the clip and wrote, “Trump’s chief economist is right: ‘Credit card spending is through the roof.’ Americans are forced to put more of their spending on credit cards because of outrageously high prices. That’s a win for big banks charging 30% interest rates. It’s a disaster for working people.”
Trump’s chief economist is right: “Credit card spending is through the roof.”
Americans are forced to put more of their spending on credit cards because of outrageously high prices.
That’s a win for big banks charging 30% interest rates. It’s a disaster for working people. https://t.co/wgt2JNt2YB
— Bernie Sanders (@BernieSanders) May 6, 2026
Former GOP Rep. Justin Amash (R-MI) added, “It’s like this administration is now just trolling MAGA.”
Pod Save America host Jon Favreau added, “We must consider the possibility that Kevin Hassett is secretly working for the Democrats.”
Below are some more reactions:
Trump's own economics guy is admitting what we already know: American families are paying more for groceries, gas, and everyday necessities because Trump’s policies have made everything more expensive. https://t.co/FueK0Zt3s2
— Kirsten Gillibrand (@SenGillibrand) May 6, 2026
The @POTUS himself does a lot to exacerbate his own problems re affordability. But this guy consistently hurts. Why they send him out is a mystery! https://t.co/oWpuRRWsjy
— David Axelrod (@davidaxelrod) May 6, 2026
Everything is going up and to the right, including credit card debt.
Great news for people who can't math. https://t.co/kJx7fBgoMW
— Hemant Mehta (@hemantmehta) May 6, 2026
Trump’s people are so out of touch that they’re celebrating the American people paying higher prices.
They’re spending $2 billion of your tax dollars every day on Iran while Americans are struggling to pay at the pump. https://t.co/NylTQvAI0Q
— Senator Ruben Gallego (@SenRubenGallego) May 6, 2026
Bro does he think this is a good thing? This is so wild. We are being led by out of touch imbeciles. https://t.co/8h76xAYlop
— The Tennessee Holler (@TheTNHoller) May 6, 2026
Remember: Trump promised to bring DOWN prices 'on day 1.'
He's now sending his top economic advisor out to try and convince the American people that it's a GOOD thing that they are paying more for "everything."
They haven’t got a clue. https://t.co/uGJKGeObph
— Senator Chris Van Hollen (@ChrisVanHollen) May 6, 2026
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