Also what I missed writing about during my hiatus: the nerdy wonk inside me got excited any time a politician mentioned rising credit card debt in a speech during the Republican and Democratic national conventions. To my informal count, Former President Clinton and Senator Obama both mentioned rising credit card debt.
What I’ve thought was most poignant is how Obama lists credit card payments among the many mounting economic pressures that families are facing today. See this ad that came out right after the bailout of Fannie and Freddie (wow, that seemed like a long time ago). From the ad:
It’s hard to pay for gas and groceries, and if you put it on a credit card, they probably raised your rate.
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