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.

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[–] 34 points 3 years ago (1 child)

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.

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  • [–] 12 points 3 years ago (3 children)

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

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  • [+] 6 points 3 years ago* (last edited 2 years ago) (2 children)
  • [–] 2 points 3 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.

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