Consumers incurred 154 percent more credit card debt during the third quarter of 2011 than the same period in 2010. We are projected to end the year with $64 billion more in credit card debt than we began. This suggests increased spending in 2012, especially since cash and other methods of payment aren’t even included in these trends. What’s more, the unemployment rate recently reached a 32-month nadir, so more income will be in play. Increased economic activity should help the overall economy in 2012, but consumers must be careful not to add more debt or 2013 could be rough.
Aaron Jaffe/The Seattle Times/AP/File
