Highest Credit Card Debt Ever!

Sorry for the blogging blackout but we are in Montana for a wedding and the mountain valley has no internet or phone service. So I will try and post a few things from my iPad this week but probably not much.

It would seemAmerica is back on a binge of spending money they don't actually have. The last time the trillion dollar threshold was broken was in 2008 right before the meltdown.

American consumers just hit a scary milestone.

They now collectively have the most outstanding revolving debt — often summarized as credit card debt — in U.S. history, according to a report Monday released by the Federal Reserve. Americans had $1.021 trillion in outstanding revolving credit in June 2017. This beats the previous record in April 2008, when consumers had a collective $1.02 trillion in outstanding credit revolving credit. 

“This record should serve as a wake-up call to Americans to focus on their credit card debt,” said Matt Schulz, a senior industry analyst at CreditCards.com, a credit card website. “Even if you feel your debt is manageable right now, know that you could be one unexpected emergency away from real trouble.”  Here:  http://www.marketwatch.com/story/us-households-will-soon-have-as-much-debt-as-they-had-in-2008-2017-04-03