How Americans learned to love the credit card

Americans are in serious debt. Together, we owe nearly $1.3 trillion in credit card debt alone; our average balance is around $6,500 each. Owing that much can be scary, not to mention overwhelming. And all of that debt has created some seriously strange political bedfellows: President Donald Trump has proposed capping credit card interest rates at 10 percent for one year, and a bipartisan group of lawmakers, including Sens. Bernie Sanders (I-VT) and Josh Hawley (R-MO) and Rep. Alexandria Ocasio-Cortez (D-NY), is into the idea too.