Consumer Debt Reaches $14 Trillion August 27, 2008
Posted by BDO in Organizational.Tags: America, beating, clock, consumer, Debt, economy, high, new, record, trillion
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The Consumer Debt Clock created by BeatingDebt.org recently reached a new record of $14 Trillion. Our nation’s consumers reached a new high in their addiction to debt. We continue to accept more debt to afford the lifestyle we want. The staggering amount of debt places more of our nation’s wealth into the hands of lenders and more families in the bondage of debt slavery. While the Consumer Debt Clock is a prediction based on past growth estimated by the Federal Reserve, the new results will be released on Sept 18th to ensure the Consumer Debt Clock was correct in its calculations. Furthermore, we will re-calibrate the clock with the data on the growth of our consumer debt.
Check out the BeatingDebt.org’s Consumer Debt Clock to get your own widget for your website.
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