Posted 1/1/2024, 1:00:00 PM
High Inflation, Debt Load Signal Economic Struggles Ahead for Americans in 2024
- Inflation remains high at 3.1% in November 2023, hurting middle class and working Americans with high prices
- Record consumer debt over $1 trillion, with more Americans struggling to pay bills and relying on loans
- Housing market downturn with record home purchase cancellations and prices out of reach for most buyers
- Consumer sentiment dropped in November 2023 showing less confidence in economy
- 2024 likely to see recession, job losses, lower consumer spending as debt catches up to consumers