U.S. Consumers On An Unprecedented Debt Binge As Credit Card Debt Soars To An All-Time Record High

"Total U.S. consumer credit has now hit a grand total of 3.9 trillion dollars, but it is the 'revolving credit' numbers that are getting the most attention. Revolving credit alone shot up by 9.8 billion dollars in May, and that was one of the largest monthly increases ever recorded. At this point, total 'revolving credit' has reached a brand new all-time record high of 1.39 trillion dollars, and credit card debt accounts for nearly all of that figure."