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Morris Invest’s Real Estate Wisdom: A Blog for Savvy Investors

The Toll of Government Spending on American Credit Card Debt

The Toll of Government Spending on American Credit Card Debt

Despite the optimistic outlook on the economy frequently presented by the White House, a less positive reality unfolds for the average American – a massive surge in credit card debt. By the close of the last year, credit card debt in the United States reached a historic peak of $1.13 trillion. This alarming figure represents how Americans have had no choice but to finance basic living expenses on credit cards. Unchecked government spending has contributed to this dilemma and continues to do so, pushing U.S. citizens further into debt.s A Nation Drowning in Credit Card Debt A closer examination of how the nation arrived at this level of credit card debt reveals a pattern of governmental policy failures and excessive spending, among other factors, that have helped fuel a widespread cost-of-living...

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