Consumer Debt and Responsible Spending
Statistics released by the Federal Reserve suggested that the level of consumer debt stabilized throughout 2009, amounting to an estimated sum of nearly $2.5 trillion. To help comprehend these figures, this amount equates a consumer of debt of just less than $8,100 for every single individual citizen in the US.
Despite showing signs of steadying, this level of consumer debt is still a sharp increase on the figures reported at the turn of the century. What is interesting is that despite the continuing growth in debt and financial burden, consumer spending continues to rise sharply and out of proportion to inflation.