"Between 1989 and 2001 credit card debt in America almost tripled, from $238 billion to $692 Bi


"Between 1989 and 2001 credit card debt in America almost tripled, from $238 billion to $692 Billion. The savings rate steadily declined and the number of people filing for bankruptcy jumped 125 percent." See "Borrowing to Make Ends Meet," Demos: A Network for Ideas and Action

Source: Herbert, Bob, "Caught in the Credit Card Vise," The New York Times, 9/22/03

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