Borrowers, especially the young, struggle with credit card debt in potentially bad sign for economy: Consumers are increasingly struggling to pay their credit card bills, raising concerns about severe delinquencies spiraling and sapping consumer spending

4 comments

1. Biden says the economy is great so it must be a spending problem with young people. Right? Which is it?

2. Come on, it’s just their imagination.

   Look at the great jobs and employment figures leaking from the bowels of the BLS.

   If young people just cut out the avocado toast they can afford a house.

3. Not saying everybody is like this, but my sister and her husband spend roughly $400/month on TV subscriptions and internet and refuse to reduce these expenses even though they complain about the price of eggs. The husband is on disability and my sister cleans doctor’s offices at a hospital. They are avid Trump supporters and racist as well. Another relative has $33k in CC debt but thought that as long as he made the minimum payment every month he was in the clear. He has since seen the error of his ways and is making headway but the repayment plan he’s on costs about one-third of his net pay. Fortunately, he’s single. Can’t blame the economy or Biden for everything.

4. CC debt issues have been around forever. I remember my dad commenting on our neighbors toys (boat, etc) saying they were financed on cards and were one payment away from repo. It took me years to learn the Cc lessons myself. CC debt is a proxy for indentured servitude, imo.