Consumer Debt
Consumer advocates say rising prices and high interest rates are leaving many Americans, including here on the Oregon Coast, struggling with growing credit card debt. A new analysis finds more than 40% of U.S. adults are unable to pay off their balances each month, as interest rates have climbed to more than 22%, nearly double what they were a decade ago. Jennifer Zhang, a policy analyst with Protect Borrowers, says Americans now carry record levels of credit card debt, driven largely by higher living costs. In Oregon, the average household balance tops $6,200, up about 25% since 2021. Zhang says economic pressures, including job loss or unexpected expenses, often trigger missed payments, with high interest making it even harder for families to…..