Bankruptcies in the U.S. are on the rise, and according to Newsweek, they’re nearing levels not seen since the early months of 2020. Rhode Island leads the pack, recording a 27.6 percent rise in filings over the past 12 months, with Florida in second place at 23.5 percent.

Matt Layton, LegalShield senior vice president of consumer analytics, points to “missed mortgage payments, maxed-out credit cards and mounting buy-now-pay-later balances” as contributing factors to the increase and expects the data to get worse in the future.

This is obviously bad news for America. As recent college graduates struggle to enter a stagnating job market, prices for produce and groceries spike and people 70-plus account for most home purchases, something has to give.

Sadly, it’s going to be you, giving your whole paycheck just to get by.