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U.S. Household Credit Card Debt Still Way Too High

Ontologuy

Ontologuy

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So sad .. no wonder Trump won -- people are desperate for some kind of change from the same old same old failed domestic economic policies: U.S. Households Now Owe Over $16,000.00 in Credit Card Debt
American families are taking on increasing amounts of debt as incomes fail to keep pace.
Click to expand...
Yeah, that pretty much says it all.

Anyone who thinks Americans' individual economies aren't in a major crisis simply isn't paying intelligent attention.
 
Ontologuy said:
So sad .. no wonder Trump won -- people are desperate for some kind of change from the same old same old failed domestic economic policies: U.S. Households Now Owe Over $16,000.00 in Credit Card Debt
Yeah, that pretty much says it all.

Anyone who thinks Americans' individual economies aren't in a major crisis simply isn't paying intelligent attention.
Click to expand...

Looks like from your reference, the total burden of credit card debt has gone DOWN over the last ten years. And I don't think that even factors in inflation.

I don't think this stat calls out a 'major crisis'.

Seems to me that wages have gone up lately, we have what is basically full employment. Yes, things could be better, but they also could be a whole lot worse.
 
Ontologuy said:
So sad .. no wonder Trump won -- people are desperate for some kind of change from the same old same old failed domestic economic policies: U.S. Households Now Owe Over $16,000.00 in Credit Card Debt
Yeah, that pretty much says it all.

Anyone who thinks Americans' individual economies aren't in a major crisis simply isn't paying intelligent attention.
Click to expand...

I owe 112 dollars in credit card debt, and I run it up with stupid stuff just to pay it off so my credit will be good enough to buy a house at a low low rate. I never understood the massive debt thing, it seems less necessity and more about keeping up with the jone while putting themselves through bankruptcy.
 
Ontologuy said:
So sad .. no wonder Trump won -- people are desperate for some kind of change from the same old same old failed domestic economic policies: U.S. Households Now Owe Over $16,000.00 in Credit Card Debt
Yeah, that pretty much says it all.

Anyone who thinks Americans' individual economies aren't in a major crisis simply isn't paying intelligent attention.
Click to expand...

The fact that families are often times choosing to live above their means doesn't make it my problem. Or the nation's problem.
 
Pay those things off. Then cut them up.
 
The credit card debt problem is not a "liberal" syndrome -- the high numbers of people so suffering clearly imply that people without an ideological lean also suffer from this problem.

As the article indicates, basic necessities have gone up faster than incomes, and on the survival level of Maslow's Hierarchy of Need, people are choosing to try to maintain, even if that means they go in debt.

This problem is simply indicative of the major causes that reflect American individual buying power has considerably decreased.

This systemic problem is a national problem and deserves national attention.
 
I had 1 credit card we only use it for large purchases or emergency purchases.

The only reason I have another credit card is that I travel and it is a hotel card.
I get 5x the points at the hotel with it.

Company pays it so not worried.
 
Ontologuy said:
The credit card debt problem is not a "liberal" syndrome -- the high numbers of people so suffering clearly imply that people without an ideological lean also suffer from this problem.

As the article indicates, basic necessities have gone up faster than incomes, and on the survival level of Maslow's Hierarchy of Need, people are choosing to try to maintain, even if that means they go in debt.

This problem is simply indicative of the major causes that reflect American individual buying power has considerably decreased.

This systemic problem is a national problem and deserves national attention.
Click to expand...

...and the article indicates credit card debt is declining over time.
 
Ontologuy said:
So sad .. no wonder Trump won -- people are desperate for some kind of change from the same old same old failed domestic economic policies: U.S. Households Now Owe Over $16,000.00 in Credit Card Debt
Yeah, that pretty much says it all.

Anyone who thinks Americans' individual economies aren't in a major crisis simply isn't paying intelligent attention.
Click to expand...

Kinda misleading headline. The actual average household cc debt is $5,946.48 (lower than 2002)... the average cc debt for indebted households is $16,060.78.

https://www.nerdwallet.com/blog/average-credit-card-debt-household/
 
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