Americans' credit card debt hits a record $1 trillion | CNN Business
www.cnn.com
Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.

Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.

  • @[email protected]
    35•2 years ago

    No one has enough money to live anymore. This isn’t a problem of people being reckless, they’re using credit because there isn’t enough money coming in to pay for everything.

    • @electrogamerman
      13•2 years ago

      People are definitely being reckless AND things are being crazy expensive nowadays.

        • @Specific_Skunk
          5•2 years ago

          I’ve lived through enough financial crises that constantly hearing that (“Low unemployment! Go spend money! It’s fiiiiine, everything is GREAT!”) for the past year has made me a nervous wreck.

        • @[email protected]
          2•2 years ago

          Consumer spending is up. Unemployment is low. Wages are up. Inflation is down.

          That said, no one should choose to spend based on that. People should choose to spend based on their own personal financial security.

        • @electrogamerman
          2•2 years ago

          I would say depends on how often you are taking $3k for vacation and how long it takes to pay it back. If you are taking vacation more often than you can pay back, then that’s reckless.