Consumer Debt Gone Mad

WASHINGTON (Reuters) says "U.S. consumer credit rose by a smaller-than-expected $5.54 billion in July." What? 5.54 billion is 2 billion less than expected? Guess how much it increased by in June? $14.11 billion in June. As of July we are sitting at $2.350 trillion dollars of consumer debt. Credit cards and charge cards (revolving credit) represents $840.8 billion of this multi-trillion dollar travesty. In June the rate of increase of people relying on credit cards went up by a whopping 14%. And you wonder why we have debt consolidation, debt elimination, and a myriad of other programs. We need them!