And since using a credit card is so easy, Americans are swiping plastic at a fast pace. Total U.S. consumer debt reached $2.35 trillion in July -- an average of almost $8,000 for every adult and child in the country. That doesn't include mortgages -- it's just car loans, boat loans, snowmachine loans, credit cards and such.
The credit card portion alone is in the $800 billion neighborhood, or about $2,700 per American.
It's time to pay the bill
I don't owe anyone a penny. I have NO debts. Someone please remove me from that list of debtors! :-)