The Federal Reserve Bank of New York Keeps Statistics on Consumer Debt

In the last quarter of a year, americans added forty six billion just in credit card debt alone. The carrying interest rate you have to pay for your credit card debt is now higher than it has been in a long time and rising fast. Americans cannot sustain themselves not only by no longer saving money, they've given up on doing that, but going into heavier and heavier debt at a time when interest rates are rising.