Credit card debt going DOWN?! Mass hysteria!
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Facebook it! | 08/23/09
DINKs Finance jogged my memory of this U.S. National Debt Clock in a recent post, so I popped over to check it out.
Of course, it’s mostly really bad news: $11.7 trillion on the national debt; another person gets unemployed every 20 seconds; the unfunded liabilities like Social Security, Medicare, and the prescription drug benefit, are pushing $59 trillion.
But there was one piece of good news – perhaps an indication of some responsible American behavior, or perhaps merely a micro-drop of Wite-Out® for the reams of red ink, perhaps just a statistical anomaly. USDebtClock.org’s take is that credit card debt is decreasing.
This is known in the personal finance world as a Very Good Thing. We’ll see how long it continues.
2 Responses to “Credit card debt going DOWN?! Mass hysteria!”
By Roger on Aug 25, 2009 | Reply
I keep asking myself, how did we ever get into this mess??
By usedvans on Aug 27, 2009 | Reply
Wow, I was expecting more debt considering the state of the economy right now…