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Wednesday, February 3, 2016

ANOTHER BUBBLE ABOUT TO BURST

Estimates of Americans' debt burden abound, and unfortunately, they're almost all different. But one thing is clear: Americans are carrying a lot of debt, especially millennials, according to Gallup analysis.

Perhaps the most surprising finding from Gallup's analysis is just how few Americans account for that mountain of consumer debt. For example, three out of four U.S. adults (76%) report that they have at least one credit card, but, on average, Americans have 3.4 of them. The percentage of Americans who have credit cards is lowest among millennials (65%) and highest among traditionalists (85%), with Gen Xers (78%) and baby boomers (83%) in between.


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