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Total credit card debt having just hit a record $1.1 trillion, up $363B since 2021. That's $7.3B a month. Buy Now, Pay Later schemes, projected at $117B this year, aren’t even counted. (fred.stlouisfed.org)

submitted 1 week ago by cm0002@lemmy.world to c/usa@midwest.social

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[–] L7HM77@sh.itjust.works 5 points 1 week ago* (last edited 1 week ago) (1 children)

2010, vaguely remember a change in credit/debt reporting related to the crash. Found this while searching, rules changed in July 2010. In theory, actual debt didn't change, but it shows how vastly accounting can shift numbers around. Is the data accurate now?

2020, consumer debt 'only' dropped by ~120 billion, supposedly ~3 trillion was distributed through stimulus, kinda lines up.

[–] Alexstarfire@lemmy.world 1 points 1 week ago

You da man!! 👉👉