Americans struggling to pay their student loans are defaulting on other debt too.
In particular, 57% of student loan borrowers in default are also failing to pay their credit card debt.
My @morningjoe-msnow.bsky.social Chart.
The U.S. savings rate has fallen by more than half in 2 years.
That makes millions of Americans vulnerable to shocks like the Iran War.
My @morningjoe-msnow.bsky.social media Chart.
With rising inflation and interest rates, more Americans are defaulting on their mortgages.
For the poorest communities, the rate has increased nearly sixfold.
My @morningjoe-msnow.bsky.social Chart.
In 2025, only 21% of Americans experienced growth in their emergency savings.
That trend will likely get worse this year as inflation eats into disposable income.
My @morningjoe-msnow.bsky.social Chart.
The Iran War bumped inflation over nominal wage growth for 2 months.
That means real wages actually shrank last month by 0.8%.
Americans’ balance sheets are in a difficult place—with mounting debt and declining savings.
I was on @morningjoe-msnow.bsky.social this morning to run through the numbers.
401(k) hardship withdrawals are rare, but they spike when Americans’ saving and income don’t cover their expenses.
Since 2020, Vanguard data shows they have more than tripled.
My @morningjoe-msnow.bsky.social Chart.
Inflation spiked to its highest level in 3 years last month: 4.2%.
Trump’s tariffs and the Iran War are undoubtedly hurting Americans’ pocketbooks
The inflation story in one chart: gas +40% y/y, energy +24%.
An entirely self-inflicted wound caused by Trump’s War on Iran.
Delinquencies are up across loan categories since 2024.
About 13% of credit card balances, and 10% of student loan balances are currently delinquent.
My @morningjoe-msnow.bsky.social Chart.
