Americans coast to coast are preparing to celebrate the nation’s 249th birthday in patriotic style. From spectacular firework displays to backyard barbecues, the Fourth of July embodies the spirit of freedom and unity that has defined the United States since the Declaration of Independence was signed by 56 founding fathers in 1776.
However, celebrating this holiday can come with a hefty price tag—especially during a period of significant inflation, according to Wallet Hub.
As a result of the American economic upheaval, many Americans are scaling back their spending. In fact, a recent nationally representative survey by WalletHub found that 79% of Americans say our independence is threatened by the rising federal debt.
The survey also explored Americans’ plans for July 4th and their view on freedom and patriotism amid the current shifting social and political landscape.
Key Stats
- Debt Shadows Freedom: 79% of Americans say our independence is threatened by the rising federal debt.
- Financial freedom: 38% of Americans don’t feel financially independent this 4th of July.
- Budgeting for the holiday: 53% of Americans plan to spend less money this 4th of July than they did last year.
- Turning in their graves: 7 in 10 Americans think the founding fathers would not be satisfied with the current economy.
- Tariff’s impact: 48% of people say tariffs are affecting their 4th of July plans.
- Wallet vs. Nation: Nearly 1 in 3 Americans say they’re not willing to pay extra to buy U.S.-made products.
Americans have good reason to be concerned about personal debt too:
(who the heck goes into debt to celebrate the 4th of July?!)
“Americans have an absolute mountain of credit card debt — $1.182 trillion, to be exact.
Americans’ total credit card balance is $1.182 trillion as of the first quarter of 2025, according to the latest consumer debt data from the Federal Reserve Bank of New York. That’s down from $1.211 trillion in Q4 2024, which is the highest balance since the New York Fed began tracking in 1999.
This credit card debt statistics page tracks Americans’ credit card use each month. We update this page regularly, examining the amount of debt people have, how often they carry a balance from month to month, how frequently they pay their credit card bills late and more.”
https://www.lendingtree.com/credit-cards/study/credit-card-debt-statistics/
Odd for a poll about July 4 to focus on economics. Seems like what is worrying people molies in other areas….