CreditLearningCenter.com Releases Part 1 of 2: Credit and Debt in America :: Business Articles and Info

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CreditLearningCenter.com Releases Part 1 of 2: Credit and Debt in America
Added: 10/05/2006 Type: Summary Viewed: 131 time(s) [ Not Rated Yet ]

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CreditLearningCenter.com Releases Part 1 of 2: Credit and Debt in America

CreditLearningCenter.com today announced the release a of a two-part series, "Credit and Debt in America." Part 1 of the series entitled, "Facing the Terror within Our Borders: The Democredit Way," explores the profound implications of the growing level of debt in America.

The growing culture of consumption and credit really has become, in effect, the democredit way of life in America

"This series was produced to communicate just how dangerous the situation has become with respect to the level of debt in America, both federal debt as well as consumer debt," said Walter Burch, Editor-In-Chief of CreditLearningCenter.com. "The growing culture of consumption and credit really has become, in effect, the democredit way of life in America," added Burch.

"Many financial analysts and economists believe we are moving full speed ahead toward an economic iceberg, but the warning signs are not being heeded," continued Burch. The series cites the fact that the United States has amassed the highest levels of debt in human history, and now is forced to borrow more than $50 billion each month from foreign nations just to meet its obligations. More and more economists are calling the borrow-and-spend cycle "unsustainable."

"Facing the Terror within Our Borders: The Democredit Way," also points out the growing dangers of the housing bubble, rising credit card debt, and a negative savings rate for Americans last year, the first time thats happened since the Great Depression.

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