Suze Orman Issues Stark Warning Over Rampant Credit Card Debt Crisis, Cites ‘Financial Emergency’ for Middle-Class Americans
NEW YORK, NY – Personal finance expert Suze Orman has issued a pressing warning regarding the nation’s escalating credit card debt, labeling it a “financial emergency” that threatens the stability of millions of middle-class households. According to Orman, consumer credit card balances have surged past a critical threshold, driven by persistent inflation and rising interest rates. She emphasized that many Americans are now trapped in a cycle of high-interest borrowing to cover basic living expenses, with average annual percentage rates climbing above 21 percent. Orman urged individuals to prioritize debt elimination through budgeting and consolidation, cautioning that continued reliance on credit could lead to long-term financial ruin. The warning follows recent Federal Reserve data showing total U.S. credit card debt has exceeded one trillion dollars.