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Update Economic USA Consumer Credit
Consumer debt is increasing; that is a fact. However, it has been increasing since 1980 except for a few brief periods. In the early 1990’s there was a period of zero and slight negative growth and then again in 2008 as the mortgage crisis set in. Otherwise, expansion has been the norm. Certainly, the current rate of expansion is higher than most previous time periods which leads to the question of whether or not the consumer can afford the credit outstanding? Is the consumer overextended, or is credit increasing as a result of increased income or confidence?