"Cracking the Code: Tackling Credit Card Debt in Today's Economy"

US households are facing increasing financial pressure due to high levels of debt, with delinquency rates on credit cards and auto loans at their highest in over a decade. The Federal Reserve's interest rate hikes have made it more expensive for consumers to borrow, leading to a significant burden on many families. The high cost of borrowing is not captured in inflation figures and is affecting consumer sentiment, potentially impacting President Joe Biden's reelection bid. Many households are struggling to make ends meet, with some blaming the current administration for the gloomy economy. The return of student loan payments is adding to borrowers' financial stress, shaping the economic outlook for many voters.