The American Household Meltdown: Why Families Are Drowning In Unpayable Debt

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13 days ago
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Finance Education credit card delinquency high interest rates record debt levels negative savings rate economic downturn financial crisis household debt American economy rising delinquency

The U.S. is witnessing record-high credit card delinquency rates, with balances soaring to $1.3 trillion and interest rates at an alarming 28%. This financial strain signals a looming economic downturn, exacerbated by a negative net savings rate, which mirrors previous financial crises. Are we on the brink of a larger economic collapse?

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