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Debt, Debt, and What’s Next | Salt Lake City News
Inflation’s biting, paychecks aren’t keeping up, and U.S. household debt has hit a staggering $18.8 trillion—mostly mortgages, cars, and a ballooning $1.2 trillion in credit card debt. As folks tighten belts and avoid new spending, the economy risks slowing, echoing past recessions and hitting lower-income families hardest. While some economists say the debt-to-income ratio isn’t as dire as before, others warn that massive AI and data center investments are diverting resources from housing and manufacturing, even driving up chip prices. Bottom line: if you’re drowning in debt, now’s the time…
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