Cardhub.com reports we dug ourselves $17.7 billion deeper into debt this Spring.
That’s actually an improvement from the $19.4 billion we spent a year ago, but a major disappointment from Winter, when we were able to pay down our debt by $35.5 billion.
Americans’ outstanding revolving debt since 2009 stands at -$815.8 billion, and our credit card debt stands at $799.5 billion.
In a release, Cardhub CEO Odysseas Papadimitriou admonished:
“And in aggregate, we have still not paid down the debt we’d accumulated by December 2008.
“I hate to sound like a broken record, but people simply cannot continue to live in denial, thinking that the economy’s improvement means they can take spending back to pre-recession levels. Pre-recession spending was inextricably tied to the housing bubble, and its collapse means that we all have to adjust.”
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