Americans owe more than a trillion dollars in credit card debt, up 60% from just five years ago. Meanwhile, higher interest rates make debt even more difficult to pay off, a downward spiral causing credit card delinquencies to surge. Economics correspondent Paul Solman explains.
Americans owe more than a trillion dollars in credit card debt, up 60% from just five years ago. Meanwhile, higher interest rates make debt even more difficult to pay off, a downward spiral causing credit card delinquencies to surge. Economics correspondent Paul Solman explains.
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