In the second financial quarter of 2019, consumer debt in the United States was close to $14 trillion. That marked the 20th consecutive quarter for an increase in American debt. That debt included approximately $1 trillion in credit card debt, which is on the rise along with mortgage, auto and student loan debt. Increased spending is a sign of a strong economy and healthy job market, but it may also mean that many consumers are living beyond their means by spending credit rather than cash.
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