(Jeff Gates)Did the recent recession make consumers realize that carrying large amounts of debt for their credit card and car purchases is a bad thing? No, Americans have not adopted widespread frugality, a report from the Federal Reserve shows. We’re taking on more consumer debt than ever. Yes, even when you adjust it for inflation. Of course, here’s the catch: when you hear the phrase “consumer debt,” you might think that includes commercial spending like purchases of appliances, cars, and anything that you can put on a credit card.
American Consumers Now Have The Most Debt Ever
Laura Northrup, The Consumerist
Tue, 09/30/2014 - 8:26am
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