Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.
Inflation exists, credit card debt is always hitting records.
Hitting a debt record is really just saying “back to pre-pandemic levels” and with inflation so high in the meantime we’re really not even there yet.
It’s like when the winning presidential candidate has the most votes anyone ever got. There’s more people now, it would be embarrassing if it didn’t happen.
Inflation exists, credit card debt is always hitting records.
Hitting a debt record is really just saying “back to pre-pandemic levels” and with inflation so high in the meantime we’re really not even there yet.
It’s like when the winning presidential candidate has the most votes anyone ever got. There’s more people now, it would be embarrassing if it didn’t happen.