There is an old saying about history repeating itself if we are not smart enough to learn from it. This seems to be happening right now with regards to credit card debt levels in the United States. It was less than a decade ago that the great recession financially rocked the United States. Prior to the recession, things were cruising right along, economically speaking. And that means that credit card debt levels were pretty high. Of course, once the bottom fell out, all of that consumer credit card debt led to financial disasters for millions of American consumers. That same type of debt is rising to a level that is pretty darned close to pre-recession numbers. Take for example the closing of last year. In the final quarter of 2015, consumers racked up a sizeable $ billion in credit card debt. That number can be so hard to digest that it is difficult to understand how much debt affects the average household. When adjusted to…
Continue Reading