Newsroom America.com:US ECONOMY - U.S. Credit Card Debt Seen As Next Nightmare
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US ECONOMY Slowdown - U.S. Credit Card Debt Seen As Next Nightmare
Americans now owe nearly as much on their credit cards as the estimated $1 trillion subprime loan debt that has sapped the housing industry and put a squeeze on the U.S. economy. Newsmax.com reported Wednesday that Americans now owe a record $915 billion on their credit cards alone. Worse, defaults and delinquencies in the credit card industry are beginning to mount."
