Credit Card Debt Surpasses $1 Trillion in US as Americans Continue to Struggle | EWTN News Nightly
- Preacher
- Mother Angelica
- Tradition
- Roman Catholic
- Published
- Length
- 4:13
About this sermon
A top issue for voters this election day is the economy. With a sharp slowdown in hiring last month, many economists believe a market cooling is ahead. This comes as the federal reserve extended their pause on rate hikes but left the door open for future increases as they continue to combat high inflation. Many Americans are feeling the pressure at the gas pump and grocery store. Research fellow in the Thomas A. Roe Institute for Economic Policy Studies at the Heritage Foundation, Joel Griffith, joins to share how much of a factor he thinks the economy is playing in this off-year election. Many Americans are feeling the pinch right now, dipping into their retirement fund and relying on credit cards to make ends meet. In fact, the New York fed just released a report on household debt and found Americans now owe over $1 trillion on their credit cards. What's more, the balances rose by a whopping $154 billion year over year. Griffith discusses why credit card debt keeps rising and how people are going to get it under control. Another concern is the war between Israel and Hamas and that it may spill into other parts of the region and impact oil prices, sort of reminiscent of the Arab-Israeli war of 1973 that led to an oil embargo and soaring prices. Griffith tells us whether he sees something like this potentially happening again. ------------ EWTN News Nightly provides the latest news and analysis from a Catholic perspective. Join host Tracy Sabol, our Capitol Hill, White House and Rome Correspondents, as well as many other diverse guests daily, to get the latest from the U.S. and the Vatican on topics regarding our Catholic faith and interests. ------------- EWTN News Nightly airs on EWTN weekdays at 6pm & 9pm ET. ------------ Don't miss an episode of EWTN New Nightly. Get updates here: https://www.ewtn.com/tv/shows/ewtn-news-nightly ------------- Sign up today to receive the EWTN News Nightly newsletter: https://www.ewtn.com/enn ------------- Follow EWTN News Nightly on Social Media: Facebook: https://www.facebook.com/ewtnnewsnightly Twitter: https://twitter.com/EWTNNewsNightly Instagram: https://www.instagram.com/ewtnnewsnightly/ ------------- Subscribe to EWTN YouTube channel here: https://www.youtube.com/user/EWTN ------------- You can support the EWTN News mission: https://bit.ly/3qDR1qf
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