The Daily Money: Why we don't talk about credit card debt
The Daily Money: Why we don't talk about credit card debt
Good morning! It's Daniel de Visé with your Daily Money.
Credit card debt is an embarrassment to many Americans. It is especially embarrassing, apparently, to people who earn a lot.
Roughly two-fifths of consumers with credit card debt have lied about the amount of their debt, according to a recent survey from LendingTree, an online lending marketplace. Among those with card debt who earn more than $100,000 a year, the share who lie about it rises to half.
Let's talk about why.
Signs of ill health in the bond market?
Over the past 12 months, about half of all debt in the U.S. bond market has been Treasurys: bonds and notes issued by the federal government.
That's according to a June 8 research note from Torsten Sløk, the chief economist for money manager Apollo.
'This is not healthy,' Sløk wrote. 'Half of credit issued in the economy should not be going to the government.'
Here's what he means.
Fewer 401(k) millionaires in 2025
Retirement savers have faced plenty of white-knuckle days in 2025 when stock market conditions — and on-again, pause-again tariffs — put everyone's nerves on edge.
Amazingly, no matter how awful things felt, many have not seen a double-digit fallout in their 401(k) savings in the first quarter, according to the latest data from Fidelity Investments.
This year, however, it hasn't been so easy to become a 401(k) millionaire.
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About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.
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