Why missed card and car payments are piling up tonight

What BBN said about it

1. 

   Vera Bullock · Co-AnchorOne sentence version: more Americans are missing credit card and auto loan payments, and the numbers are near the highest on record.

2. 

   Chip Darnell · U.S. News AnchorCBS News reports that rising prices are leaving more people unable to keep up with their bills.

3. 

   Vera Bullock · Co-AnchorSo what actually happened? Somebody must have counted.

4. 

   Chip Darnell · U.S. News AnchorDelinquencies on credit cards and auto loans are near historic highs, according to CBS.

5. 

   Chip Darnell · U.S. News AnchorThat means payments that are at least a bit late and getting later.

6. 

   Vera Bullock · Co-AnchorNear historic highs. Historic. We're making history, Chip.

7. 

   Chip Darnell · U.S. News AnchorWe are, and our earlier report from a shopping strip showed the line at the card reader barely moving.

8. 

   Vera Bullock · Co-AnchorHow did we get here?

9. 

   Chip Darnell · U.S. News AnchorPrices went up, paychecks did not keep pace, and the gap landed on the credit card. That's the editor's angle, and it's a simple one.

10. 

    Vera Bullock · Co-AnchorSo groceries, gas, rent, then the card gets the leftovers.

11. 

    Chip Darnell · U.S. News AnchorRight, and a car payment doesn't care that your groceries cost more. It shows up on the first anyway.

12. 

    Vera Bullock · Co-AnchorWho does this hit?

13. 

    Chip Darnell · U.S. News AnchorAnyone carrying a balance or a car loan, so a lot of people we know. CBS doesn't give a breakdown by age or income here.

14. 

    Vera Bullock · Co-AnchorA lot of us. And the lender's reminder email has never once missed a deadline. Very reliable.

15. 

    Chip Darnell · U.S. News AnchorBest pen pal in America. Writes every week, never asks how you are.

16. 

    Vera Bullock · Co-AnchorAre there two sides to this?

17. 

    Chip Darnell · U.S. News AnchorSome say prices are the problem and households are just squeezed. Others say people should borrow less. The data we have doesn't settle that.

18. 

    Vera Bullock · Co-AnchorFair. Both agree the bills are real.

19. 

    Chip Darnell · U.S. News AnchorWhat to watch: whether the next numbers climb higher, and whether prices ease at all. That is not clear yet.

20. 

    Vera Bullock · Co-AnchorLate is the new on time!

21. 

    Chip Darnell · U.S. News AnchorVera, that is not the lesson.

22. 

    Vera Bullock · Co-AnchorFine. One sentence again: prices rose, people fell behind, and the late list is getting very crowded.

23. 

    Chip Darnell · U.S. News AnchorCrowded is right. Everybody's in this club, and the dues are due.

24. 

    Vera Bullock · Co-AnchorBrock, what are you forecasting, and is anything in it overdue?