Tom Scordato wrote: > Jeff said > > "Did you know that the 70% or so of Americans carry a balance on their > credit cards every month? The AVERAGE consumer debt of those carrying a > balance is $9,000!! That's insane!" > > Jeff and they do not care at all that is insane! Fall of the Romans, > nothing less.
Just a fact to add to this: The national savings rate last year was -0.5%. Credit card debt fell slightly, but only because people were taking equity out of their homes to pay off their credit cards. Wages have not been keeping up with inflation in this economic recovery and people are getting squeezed.
