"Rising Credit Card Debt: The Growing Financial Burden on American Households"
Delinquencies on credit card payments have reached their highest level in over a decade, contributing to a rise in household debt surpassing $17.5 trillion. Factors behind the rise in debt include optimism in the economy, inflation, and increased expenses for food, gas, and housing. Younger generations are particularly affected, with their rate of credit card debt increasing faster than older generations. Financial experts advise cutting expenses and increasing income to tackle the problem.
