Young Americans burdened with record levels of debt, economic slowdown looms.

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This is nothing short of a crisis for young Americans. The staggering increase in debt levels among Gen Z, coupled with stagnant earnings, paints a grim picture of financial stability for the next generation. It’s alarming to see that despite earning less, they’re saddled with significantly more debt than Millennials were a decade ago. With US real retail sales flatlining and leading indicators pointing towards economic slowdown, the situation becomes even more dire. And the fact that over half of Buy Now, Pay Later users admit to overspending underscores the severity of the issue. Urgent action is needed to address this looming financial catastrophe and ensure a brighter future for young Americans.

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