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Credit card debt: Americans exchanging spending for saving

August 28, 2011

Way to go, American consumers! The Huffington Post reports that U.S. consumers owe about $4700 in credit card debt, about  19 percent less credit card debt than they did before the recession started. TransUnion, one of three major U.S. credit reporting bureaus, notes that overall consumer debt including mortgage and home equity loans is down by about 16 [...]

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Consumer spending forecasts dampened by consumer debt

August 3, 2011

With the government’s debt debacle solved, and mixed financial news on the stock markets (bad) and jobs (uncertain job growth), it’s time for some good news. A prominent U.S. consumer spending forecaster suggests that consumer spending is rising.
Bloomberg reports that financial forecaster Richard DeKaser expects increased consumer spending during the second quarter of 2011. Citing lower [...]

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