Americans’ debt skyrockets

From Fox News: “U.S. credit card debt may crash economy”

About a month ago, the New York Times examined how the use of credit has taken off dramatically in the United States since 1990. While the number of people holding charge cards grew about 75 percent— from 82 million in 1990 to 144 million in 2003— the amount they charged during that period grew by a much larger percentage: approximately 350 percent, from $338 billion to $1.5 trillion.

Who’s at fault for this mountain of debt? Surely some of the blame should be placed on the banks and credit card companies who send me approximately 20 solicitations a day. But microwave-fed, Instant-Messaged, video-on-demand Americans must bear the consequences of an instant gratification culture. Bring on the Repo Men! That'll learn 'em.