Jack Wallace, Director of Government and Lender Relations at Yrefy, said the financial picture for American consumers is concerning.
“The American consumer is not in good shape today,” Wallace said. “We have over 1.8 trillion in student loans. Auto debt is over 1.5 trillion. Credit card debt is back up. It’s up to 1.3 trillion.”
6 Comments
HulkSmashBurgers@reddthat.com · 11 pts · 11d
Remember when Biden tried to forgive student loan debt entirely which was then overturned by the courts, tried to make adjustments and was again overturned by the courts, wash rinse repeat.
Pepperidge farm remembers.
umbrella@lemmy.ml · 2 pts · 11d
yup. electoralism doesn't work because the entire system is set up for the rich.
melsaskca@lemmy.ca · 6 pts · 11d
Kids, don't pay back those loans. The government will bail out the universities just like they did with the banks and car companies. They will have no choice.
dangling_cat@piefed.blahaj.zone · 5 pts · 11d
It’s not like they can take your degree back
ninja@lemmy.world · 1 pts · 11d
The money isn't owed to universities. They already got theirs. The money is owed to banks. Banks will always get theirs one way or another.
melsaskca@lemmy.ca · 1 pts · 10d
Kids! If you read this then still don't pay back your loans. The bailout abides.