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Individual Credit Card Debt Still A Serious Issue In US

by on October 4, 2011

Debt has been a serious issue throughout America for decades and it remains an enormous problem. While many people are annoyed at the government for holding such a huge debt load, most households still have the same problem too.

Many people rely on debt to purchase homes and cars, as well as educations. Credit cards don’t help the situation any because we can purchase almost anything with plastic, making it a cinch to live beyond our income bracket again and again.

Nothing makes an impulse buy easier than a credit card does, and because they’re accepted almost everywhere these days, you get anything you want with a simple swipe. Federal Reserve statistics indicate there is currently $770 billion in credit card debt. While that number has fallen in recent years, it’s still staggering.

Because so many people start adulthood with student loan debts, debt seems like a natural state of mind, but until we decide to do something about it, things won’t change throughout the country.

Source: http://www.kstatecollegian.com/opinion/individual-debt-a-major-problem-credit-cards-not-helping-1.2638111#.TopORNSwXI1
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