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06:54 AM on 02/08/2013
Americans seems to be cutting back on credit card use. Now if we can only get Obama to do the same the country would be much better off.
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portfolio
money is the barometer of a society's virtue
07:41 AM on 02/08/2013
Two Failed Wars, TRILLIONS in Bank Bailouts due to the Bush collapse, and gifts to Big Pharma and Big Health all mean that the money has already been spent.

We need to scale back Defense spending to pre-War levels over the next two years.
08:13 AM on 02/08/2013
Well the bank bailouts actually ended up being a net profit for the Fed, but you're right about the wars, "welfare" to big corporations, and you left out that with a loss of 8 million jobs, Bush left 8 million families collecting welfare, food stamps, and unemployment instead of paying Federal income taxes. That alone probably has cost the Federal govt more than the 2 wars combined.
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rls2882
You can if you think you can
08:17 AM on 02/08/2013
The Bush thing is worn out buddy. This President was accountable when his so called "stimulus" package was approved and has owned the economy since that time.
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nick harmon
Obamacare >20k pages of regs What could go wrong?
06:47 AM on 02/08/2013
With Obama squeezing the stuffing out of the working poor and the middle class, they had to borrow to get through the holidays.
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NoLib4sho
01:09 PM on 02/08/2013
Now that we have the stuffing squeased out of us middle class, where is Obamacare, to care for us? (jk)
06:36 AM on 02/08/2013
Why sure! How could people pay for all the christmas gifts purchased and never needed too.
Now it's time to pay the Piper...
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money is the barometer of a society's virtue
07:42 AM on 02/08/2013
Next time, read the article.
01:01 PM on 02/08/2013
I did and it's outside of the box comment. Is allowed as far as I know. Any comment is allowed regardless if it pertains to subject matter or not. Next time allow people to post their comments.
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NoLib4sho
01:13 PM on 02/08/2013
Remember all those pushing to open up on Thanksgiving evening to get early shopping hours in. I forgot the "amount spent" on that Thursday and black Friday, but my eyes rolled. I wondered if they really thought about what surprises the administration had up their sleeves for us. Just as you said, now it's time to pay the piper....
09:27 PM on 02/08/2013
Your right and people just do not think or look ahead. Nothing is free in this life.
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rick howard
06:22 AM on 02/08/2013
debt, in any form, is always seen positively by the junkies whom crave more of it.
09:41 AM on 02/08/2013
Ya the libs
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TopGun14
05:45 AM on 02/08/2013
"...The Federal Reserve said on Thursday consumer credit increased by $14.59 billion in December after rising by a slightly revised $15.91 billion in November....."

Hey HP!!! If it was $15.91 billion in November and $14.59 billion in December. It didn't increase!!!!!
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jerrym930
Conservative Independent & Viet Nam Vet
06:23 AM on 02/08/2013
TopGun, They are saying that for November and December, Americans have increased their debt by $30.5 billion. Americans debt increased each month. Here is the problem. The consumer confidence level has gone down. They are spinning this to mean that people are feeling better so they are more willing to go into debt. But, the consumer confidence level is decreasing, so people are borrowing money to pay other bills.

You will notice that they do not give a complete breakdown on the borrowing. But, I find it very strange that they included student loans as an example of having a better economy. Most students do not have a job so they can repay the loan, and there are reports that the trend for students is to not repay the loans and wait to be sued.

Just this morning the reports are out that retail stores are already seeing sales drop due to the increase in the payroll taxes lowering everyone's pay checks. We are about to see a double dip recession. Well, maybe not. I am sure the Democrats will demand increased government spending to help keep GDP numbers up. It is their attempt at fooling the American people that things are getting better. But, most Americans realize that the added spending by government will just mean higher taxes on them later, so they will reduce their spending even more. So, the double dip is coming no matter how you look at it.
danielapetersen
Democrat=HYPOCRISY
09:07 AM on 02/08/2013
Most Americans have NO CLUE. Most Americans don't understand anything other than what the CNNs, MSNBCs, ABCs, CBSs and New York Times tell them. I appreciated and agree with your assessment on the consumer debt, but don't EVER give our citizens credit for "realizing" anything!
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Bill Hummel
02:43 AM on 02/08/2013
This will end at some point.
02:04 AM on 02/08/2013
If debt and consumer confidence were both up, that could be perceived as a good sign. With consumer confidence down, rising debt meant people are borrowing just to pay for what they feel are necessities. Never a good thing when you rob Peter to pay Paul.
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Y3rMawm
veni, vidi, bibi.
01:59 AM on 02/08/2013
Moar Debt = moar better...and these are the people "running" the "economy?"
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kamact
Market Observer
12:47 AM on 02/08/2013
Consumer debt is not good...It is just another form of value extraction and enslavement....
12:22 AM on 02/08/2013
Well, if it's anything like us, we have not choice because our pay is cut, our hours at work are cut, etc., etc., But the bills keep increasing. That does not mean that the increase in debt is good.
11:33 PM on 02/07/2013
Someone PLEASE explain to me why the current Powers-That-Be think that we should be glad when we INCREASE OUR DEBT (that's what raising the ceiling means... you DO know that, right?)...

Now, this article says it is a good thing for our economy when individual consumers INCREASE THEIR DEBT.

I really cannot comprehend what good could come from increased debt!
12:17 AM on 02/08/2013
It shows increased consumer confidence which should result in increased consumer demand and hence increased corporate profits and incrreased tax revenues. Consumers typically retrench and pay down debt when they are afraid of future conditions, especially the impending loss of jobs, which in turn decreases consumer demand, decreases profits, and decreases tax revenues. It's a good sign.
06:56 AM on 02/08/2013
Well then how do you spin the fact that consumer confidence is at a year low and heading down.
06:57 AM on 02/08/2013
The impending loss of jobs? I think it's already happened so much so that those out of work for so many years are not even counted in the unemployment figures. I think that increased borrowing (most likely in expensive credit card debt) is not so beautiful as you paint it after the great loss of jobs already suffered by the middle class. Of course if this huge borrowing increase was mostly made by the rich, then all bets are off as to what I said.
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Y3rMawm
veni, vidi, bibi.
02:00 AM on 02/08/2013
Increase in debt is proportional to the the increase in slavery.
11:10 PM on 02/07/2013
The real story is the Government borrowing rose this month and every month while printing with abandon to make it's bills! So it can make more money to borrow more money to pay it's bills! Oh! The great genie says the bottle is running DRY!!!!!!!!!!!!!!!!!!!!!!
10:44 PM on 02/07/2013
Let's recall the last time consumers placed themselves in a position of carrying too much debt back in 2007. Things got ugly.......fast.
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metusmetu
Once more into the fray, into the last fight...
11:33 PM on 02/07/2013
Unfortunately "consumers" tend to forget just as fast.............!
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Michael R 48
11:42 PM on 02/07/2013
I see consumer borrowing up, I see nothing about carrying too much debt.
Consumer confidence a problem for you?
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TopGun14
05:48 AM on 02/08/2013
Is it "consumer confidence" or consumer desperation, in that they have to borrow because they're not bringing enough income in to cover their expenses.

The economy is terrible. More people are unemployed in this country today than on January 20, 2009 when this guy took over.
06:58 AM on 02/08/2013
Better check again consumer confidence is at a year low and going down. This borrowing is to make end meets not to buy extras.
MAK1111
Conservatives Rule
10:32 PM on 02/07/2013
Oh good people are putting themselves further in debt. lets throw a party
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pinkridgefarm
Independent chic
11:27 PM on 02/07/2013
Borrow,Spend, Borrow....The good 'ol American way......
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Rocketmanonline
10:30 PM on 02/07/2013
Now I have to laugh when several months ago on this site I stated just how bad the Economy was and it would not get better anytime soon but I am not one to say I told you so.
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dearthaircroi
10:58 PM on 02/07/2013
I agree , things could get a lot worst soon . With the printing presses running 24 hours a day and the feds holding the interest rates near zero percent the banks and Wall Street are playing with funny money.

The 14,000 stock market we see today is not the same as the 14,000 stock market we had in 2007 .