Credit card debt in the United States reaching a record high [Video]

TIMES LAST YEAR. CREDIT CARD DEBT IN OUR COUNTRY IS AT AN ALL TIME HIGH. NEARLY $1.2 TRILLION. A LOCAL ECONOMIST WARNS THERE’S A LOT OF UNCERTAINTY IN OUR ECONOMY RIGHT NOW. PEYTON SPELLACY JOINS US LIVE WITH MORE ON THIS TOPIC. HEY, PEYTON. HEY, TODD. YEAH. U-N-M ECONOMIST RILEY WHITE FORESEES CONTINUED CHALLENGES FOR CONSUMERS DUE TO INFLATION. SO EVEN THOUGH THOSE LEVELS HAVE LOWERED, PRICES ARE STILL HIGH FOR THINGS LIKE FOOD AND HOUSING. SO THAT IS PUSHING PEOPLE TO BUY MORE ON CREDIT CARDS. HE ALSO SAYS WE HAVE A WEAKENING JOB MARKET AND SAVINGS RATES ARE LOW RIGHT NOW. SO WHEN YOU PUT THAT ALL TOGETHER, PEOPLE ARE MORE IN DEBT, WHITE SAYS FOCUSING ON FINANCIAL WELL-BEING WOULD BE A GREAT RESOLUTION FOR EVERYONE IN THE NEW YEAR. ONE OF THE BIGGEST THINGS I ENCOURAGE CONSUMERS TO DO SET UP THAT BUDGET AND MAKE SURE YOU …