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Americans Are Falling Behind on Debt as Inflation Eats Into Paychecks
More Americans are struggling to keep up with debt payments as higher interest rates and persistent inflation eat into household budgets. Nearly one in five borrowers has fallen behind on a payment, yet consumer spending remains strong, raising questions about how long the economy can maintain that balance.
Chuck Zodda and Mike Armstrong discuss why debt payments are consuming a growing share of household income, how Social Security's 3.6% cost-of-living adjustment can help protect retirees from inflation, and why gasoline prices, grocery bills, and mortgage rates are shaping Americans' views…
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