Credit card debt surges in U.S. as high interest rates make it harder to pay off

Americans owe more than a trillion dollars in credit card debt, up 60% from just five years ago. Meanwhile, higher interest rates make debt even more difficult to pay off, a downward spiral causing credit card delinquencies to surge. Economics correspondent Paul Solman explains.

<small>Source: PBS NewsHour — read the original story there.</small>