6/4/2008

As the prices of gas and food increase, the disposable income of U.S. consumers is being squeezed, leading more people to use their credit and debit cards to make up the difference. Analysts warned that the situation likely will lead to long-term problems for the consumers, banks and the overall economy. The problem is exasperated by the fact that many Americans, as well as Europeans, are already delinquent on their credit card bills.

Full Story:
CNBC

Related Summaries