On February 18, 2014, CNN Money reported that Americans are borrowing more money and using their plastic at levels not encountered since before the Great Recession in 2008. In the last quarter of 2014, overall household debt rose across the country to a staggering $241 billion dollars. Many consumers are wondering the cause of this jump, and if it shows signs that the economy is on its way to a full recovery. Read on for a look at why many Americans are borrowing more money and what this means for the country’s future.
First Increase in Debt Since 2008
The … Read the rest