Thread: Credit card debt fell again in July for 23rd straight month

Sep 08, 2010

Credit card debt fell again in July for 23rd straight month

03:12 PM

Good news for consumer debt but bad news for the U.S. economy: Credit card use fell in July for 23rd straight month, the Federal Reserve just reported.

Americans offset that drop, however, by taking out more auto loans, so-called non-revolving debt.

Here are the Fed's latest numbers.

Separately, the Fed confirmed the economy weakened again in late summer, with factory production falling in the East and Midwest.

http://content.usatoday.com/communities ... ht-month/1

Did people finally figure out that you can't spend more money than you make without causing problems for yourself?

Will our government ever figure that out?