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Americans are sinking deeper into debt, and the numbers prove it. According to the latest Quarterly Report on Household Debt and Credit from the Federal Reserve, released this week, the total household debt nationwide surged by $93 billion in the fourth quarter of 2024, bringing the overall total to a staggering $18.04 trillion. Credit card balances alone jumped by $45 billion from the previous quarter, hitting a record high of $1.21 trillion by the end of December. Aggregate delinquency rates also ticked up during…
