Credit card debt rises to $1.26T, nearing all-time record (abc7.com)

The American consumer is an enigma

Who is buying things with near-30% APR loan?

...I'm not saying this is good, but doesn't the existence of inflation mean we'll always keep breaking this record?

Not adjusted for inflation, so useless. At least do % of gdp which is also flawed but better than this.

Does a balance that has not accrued interest count as debt for this measurement? I.e. people who always pay the statement.

Now do total debt: government + corporate + household

Then add unfunded liabilities like pension benefits and healthcare promises for every federal, state and local government, school district and corporation.

A trillion of credit card debt is something like one half of one percent of total indebtedness.

When China's makes the call on US debt, its going to be very bleak day.

Basic media numeracy will tell you that because the population is increasing and inflation exists this number is not meaningful.

It sounds like it's describing "the problem with credit card debt is worse than ever" but this number cannot tell you that.

Fortunately, the data does exist and has been analyzed and it's already been put together for you here: https://www.philadelphiafed.org/surveys-and-data/2026-q1-lar...

The good news from doing the analysis properly is that this situation has been improving recently. (You will find this a lot when people panic about statistics.)

What happens to the credit card debt that is owed by people who are hunted down by ICE and kicked out of the country? Is it free money for them?