Number of Americans behind on credit card payments nears 15-year high

Core Insights - The number of Americans seriously behind on credit card payments has reached a near 15-year high, with 12.4% of credit card loan balances more than 90 days overdue, the highest since 2011 [1][3] - Total credit card debt in the U.S. has surged by 76% since 2011, now totaling a record $1.23 trillion [1][3] - Consumer sentiment has sharply declined, with personal finance sentiment at its lowest since 2009, indicating growing economic concerns [2] Economic Impact - The rising delinquency rates suggest a significant portion of consumers are struggling financially, particularly with high-interest credit card debt [3] - The affordability crisis is affecting lower-income households, leading to increased complaints about the cost of essential goods and services [4][5] - Job growth has stalled, and the unemployment rate has increased to 4.4%, raising concerns about the financial stability of lower-income households [6] Government Response - In response to rising costs, the government has announced tariff exemptions on over 200 food imports to help reduce grocery prices, marking a shift from previous tariff policies [5] - There are plans to distribute $2,000 checks to low and middle-income citizens funded by tariff income, aiming to alleviate financial pressures [6]