Posted on 09/09/2015 2:11:44 PM PDT by blam
Jonathan Garber
September 9, 2015
CardHub, a financial website that monitors credit card debt, says credit card debt levels in the US are on pace to increase by another $60 billion by the end of 2015. According to CardHub, such an increase would bring total US credit card debt to just shy of $900 billion, which is the level that at which it becomes unsustainable.
CardHub told Financial Advisor, "We erased almost all of our first-quarter pay down, racking up a whopping $32.1 billion in new balances from April through June, the largest second quarter binge since we began conducting the Credit Card Debt Study in 2009.” Financial Advisor reports data obtained from CardHub shows the average indebted household's balance is on track to reach $7,813 by the end of 2015, which is $615 below the balance at which delinquencies will begin to skyrocket.
(snip)
(Excerpt) Read more at businessinsider.com ...
Maybe the Admin Mods should remove the FR fundraiser plea from this thread..(g)
I heard a newscaster describe this as positive news because it showed that consumers are spending more, which is good for business. There’s a pony in there somewhere.
Why not max out the cards? The government does it and tells us that it is the best way to stimulate the economy.
Not the Federal “credit card” debt!
Hillary will offer to pay it all off if she is elected.
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Why not? Last time people walked away from their houses, credit cards, and cars with no consequences. Why not run it all up and do it again?
The suckers are people like us who live within their means and pay off their bills.
My debt went up over the summer,too, thanks to repairs to the heat pump and the car.
I’m not sure all this card debt is for bottles of Dom Perignon or trips to Europe. I think a lot of it is just spent on basics in this bad economy.
>>The suckers are people like us who live within their means and pay off their bills.
Yep. In the New Order, work and responsibility are fo’ suckahs.
We pay our credit card debt down to $0 every month. That way, we never have
to pay any interest because we don’t carry it long enough to accrue any.
Works like a charm to keep the debt collectors away, LOL!
Right on schedule. They run up the bills and debt during the Dem’s presidency, then it all comes crashing down when a Republican is in office. And guess who gets blamed?
If the government can do it, why can’t we?
” $900 billion, which is the level that at which it becomes unsustainable.”
Sounds scary, but who figured out the $900 billion limit, and what happens if we go above the limit?
“US credit card debt to just shy of $900 billion,”
Which is one-twentieth of the federal government’s debt.
Guess who isn’t cutting back on their spending in the least?
Yep. That’s the smart way. Plus, depending on the credit card, you even get cash back for you expenditures.
Your use of the word "us", is too inclusive. I've seen plenty of members advocating for walking away from "under water" mortgages.
I was referring to us as me and hubby. Lol
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