ABC News in November reported that Americans’ household debt levels – including mortgages, car loans, credit cards and student loans – are now at a new record high.

Millions of Americans this month are seeing their health care premiums for next year jump sharply — with some plans reported to be doubling or even tripling. And President Trump last month predicted that tariff payments will soon “skyrocket.” Foreclosures and auto repossessions are surging.

Layoffs this year have topped 1.1 million, U.S.-based employers announced 71,321 job cuts just in November. Moody’s Analytics Chief Economist Mark Zandi said 22 U.S. states are already in a recession.