Tuesday, August 4, 2015

The Growth Of Credit Card Debt.......ANOTHER PESKY FACT!

The Growth Of Credit Card Debt

Our entire system is built on easy money. Debt is the spending elixir for many households.  Unfortunately as wages have gone stagnant people have found it necessary to be reliant on debt to purchase the artifacts of middle class living.

Here is a sobering thought; household income is up 300% since 1980 while credit card debt is up 1,760%. As the middle class standard of living has fallen, people simply cannot give up on this path and have borrowed their way up:

chart-of-the-day-credit-card-debt-swallows-american-households

4-13-15-CreditCardBalanceBarChart (1)

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