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Benzinga
Benzinga
Business
Ananya Gairola

Elizabeth Warren Slams 'Trump Economy' As Data Shows Utility Bill Delinquencies Soar 32% Since 2022: 'Great For The Ultra-Rich, Bad For Everyone Else'

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Sen. Elizabeth Warren (D-Mass.) criticized the Donald Trump administration on Friday, highlighting a surge in Americans falling behind on utility bills as evidence that the current economy favors the wealthy while leaving everyday families struggling.

Rising Utility Debt Sparks Concern Among Americans

"More and more Americans are struggling to keep the lights and heat on in their homes," Warren said on X, formerly Twitter, calling the trend "the Trump economy in a nutshell."

She shared an Associated Press report that cited an analysis by the Century Foundation and advocacy group Protect Borrowers.

See Also: Jeff Bezos Was Always Confident That The iPad Was No ‘Kindle Killer’ And He’s Still Turning The Page On Apple: ‘You Don’t Understand My Audience’

Energy Costs Surge Amid AI Growth

According to the analysis, rising utility costs are increasingly straining household budgets, with the average past-due balance jumping from $597 in 2022 to $789 today—a 32% surge.

During the first six months of President Trump's second term, the report noted that the number of households with severely overdue utility debt grew by an estimated 117,000, a roughly 3.8% increase.

The analysis also indicated that between March 2022 and June 2025, average monthly energy bills climbed from $196 to $265 — a 35% increase, nearly triple the rate of overall inflation during that timeframe.

Julie Margetta Morgan, president of the foundation, noted that families often prioritize utilities alongside mortgages and auto loans, suggesting that falling behind on electricity and gas could signal broader financial stress.

Trump Administration Pushes Back

Meanwhile, the White House has distanced itself from rising electricity costs, pointing to state utility boards as the main regulators.

Treasury Secretary Scott Bessent earlier this month said that local electricity prices are not one of the federal government's responsibilities.

The administration has also argued that energy costs are higher in Democratic-leaning states that rely on renewables.

Previously, President Trump disputed negative reports, posting on social media that affordability claims from Democrats are misleading and highlighted that gasoline and energy costs are "tumbling down" under his administration.

Economic Pressure Could Impact Voter Sentiment

Nearly six million households now face utility debts severe enough to be reported to collections.

A Reuters/Ipsos poll result released this week shows Trump's approval rating at 38%, the lowest of his second term.

The four-day survey of 1,017 U.S. adults found growing frustration with Trump's handling of the economy as many households continue to grapple with elevated costs.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image via Shutterstock

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