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Wage growth for U.S, workers is lagging well behind record-high inflation. A new report from the Federal Reserve found that disparity helped drive a record jump in credit card and other consumer debt. Total consumer debt in the U.S. is now north of $16 trillion.

U.S. credit card user balances shot up $46 billion in the second quarter of 2022, a 13% spike thats the biggest year-over-year jump in 20 years.\n

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American household credit card debt surged by the highest amount in over 20 years during the second quarter, according to the New York Federal Reserve.

Credit card debt surged in the United States from April through June as Americans borrowed billions of dollars to continue spending in the face of growing inflation, according to a Tuesday report from the Federal Reserve Bank of New York.

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August 2, 2022- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "'The Rent Eats First': How Renters and Communities are Impacted...

Credit card debt held by American households surged in the second quarter of 2022, according to the Federal ...

As of Thursday, President Biden has been in office for 561 days, or 80 weeks plus one day. Some wonder about a vow he made on the day he was inaugurated way back when. "Among President Joe Biden's main promises upon entering office in early 2021 was that he would unite Americans and end the divisiveness that plagues our politics. His first inaugural address, which he titled 'America United,' was largely dedicated to the idea," recalled Terry Jones, editor of Issues &...

As of Thursday, President Biden has been in office for 561 days, or 80 weeks plus one day. Some wonder about a vow he made on the day he was inaugurated way back when. "Among President Joe Biden's main promises upon entering office in early 2021 was that he would unite Americans and end the divisiveness that plagues our politics. His first inaugural address, which he titled 'America United,' was largely dedicated to the idea," recalled Terry Jones, editor of Issues &amp...