Record-Breaking U.S. Credit Card Debt: Could it Trigger a National Crisis?
Earn Your Leisure
iHeartPodcasts
4.9 • 7.9K Ratings
🗓️ 17 July 2023
⏱️ 8 minutes
🧾️ Download transcript
Summary
In this clip, we delve into the alarming trend of record-breaking U.S. credit card debt. As debt levels reach all-time highs, we question the potential impact on the country's economic stability. We explore the causes behind this surge, analyze its implications, and discuss potential solutions.
Is this escalating debt a ticking time bomb for a national crisis? Join us as we unpack this critical issue. Don't forget to subscribe and share your thoughts in the comments below. Together, we can navigate these complex financial times. #debt #creditcard #spending
Our Sponsors:
* Check out PNC Bank: https://www.pnc.com
* Check out Square: https://square.com/go/eyl
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy
See omnystudio.com/listener for privacy information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | It's more expensive to buy a car than ever. |
| 0:05.3 | And the credit card debt is almost $1 trillion. |
| 0:09.1 | So $575 is the average car payment. |
| 0:13.6 | For a new car, $430 is the average payment for a used car. |
| 0:18.9 | Talk about credit card debt all time highs. |
| 0:23.4 | And the average interest rate for the credit card |
| 0:25.2 | is 20% interest. |
| 0:26.6 | That's it. |
| 0:27.4 | What? |
| 0:29.3 | Yeah, how is this impactful for the economy? |
| 0:34.4 | I think going to the political landscape, |
| 0:38.6 | I know they keep reporting that the job market |
| 0:40.7 | is doing well. |
| 0:42.2 | Going back to your Iath analogy, |
| 0:43.8 | I don't feel that and see that. |
| 0:45.4 | And the threads that I'm in, not on threads, |
| 0:47.5 | but in Instagram and Telegram, |
| 0:50.7 | there's a great portion of people who just |
| 0:54.5 | don't even want to work because they're like, |
| 0:56.9 | what's the point of work in my entire life? |
| 1:00.2 | Like even if we talk about a 401K, |
| 1:02.2 | a 401K is not going to give you the same kind of gains |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from iHeartPodcasts, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of iHeartPodcasts and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.