What is Wrong with Debt?
Americans are falling behind on their credit card payments at an alarming rate, sending delinquencies and defaults surging by double-digit percentages in the last year and prompting warnings of worse to come. [Read]
Listen to politicians and they will encourage consumers to continue to shop, no matter how indebted they may be because their spending fuels the economy. Unfortunately, unlike governments who have no plans to pay back their obligations, consumers are going to get slammed--they will pay.
Happy holidays...did you spend too much? (It is not worth it, and not the reason for the season.)