Wednesday, August 19, 2009

Credit Card Debt - Has it Really Improved?

The following article claims an improvement in credit card debt.

http://www.usatoday.com/money/perfi/credit/2009-08-18-credit-card-debt_N.htm

However, all debt considered, we are still in the negative. How much so is yet to be tallied. It is an easy guess to get correct. This improvement is probably the direct result of the economic stimulus plan. Yet, President Barrack Obama ran the greatest deficit in the history of the USA this year, which would totally cancel out this mild improvement in credit card debt, ~3%. Given the governement's enormous deficit, overall the debt can easily be judged without any hard stats to be increasing. This is not a sign that times are getting better. This is a sign of the President Barrack Obama trying to inflate us out of recession. It can't work.

note: It was the newly sworn in President Barrack Obama that signed and supported the economic stimulus plan. Check the dates, as I've had several people tell me it was former President George Bush Jr., but that is incorrect.

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