Credit card debt in the US has hit an all-time high of $1.08 Trillion (The average interest rate on credit cards is now over 20%, also an all-time high) [Balances have increased $154 Billion year over year, the largest increase since 1999]; U.S. Household debt reaches $17.29 Trillion
Another record credit card debt Collectively, Americans now owe $1.08 trillion on their credit cards, according to a report from the Federal Reserve Bank of New York. Steadily, persistently higher prices have caused consumers to spend down their savings and increasingly turn …