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• Joe Nobody
• Scottsdale, AZ
• United States

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The laughable debate about the USA national debt.... Part one

(First of all I have to apologize for my poor English but I'm from Europe

I decided to join the TED family, I saw a lot of interesting videos on Wimp.com so I started to visit the TED web site and I find fascinating.
Long time ago I had search on the web about the enormous debt in America, and I would like to share a few thoughts about the subject.

I watched soooooo many CNN, FOX, MSNBC debates, reports, comments, and find absolutely shocking the fact, NOBODY talk about the real reason why we are in debt. As a matter affect why is the whole World in debt? Is that normal as soon as an average citizen enter in to the school or work area they are in debt in they rest in they life. Mortgage, student loan, car loan, business loan, appliances, medical bills, EVERYTHING.
Familiar?
“ To order, have your credit card ready it’s sooo easy….”
“ You can earn double miles on this card,
“ Save 1% on this, 2% on that, 3% on whatever..

Currently amounts to a total credit card debt of about 962 billion dollars. The average credit card debt per credit card owning household is 14,750 dollars. This is the total credit card debt divided by the number of households with credit cards. Credit card penalty fees in the US add up to about 20.5 billion dollars a year.

Approximately 609.8 million credit cards are currently in use in the United States, with credit card users having an average of 3.5 cards each. There are about 176.8 million credit card users in the US. Every year, about 5 billion credit card solicitations are mailed in the USA.

Students are particularly likely to have credit card debts and they are also likely to have multiple credit cards. The average credit card debt of a new graduate is 4100 dollars, with about 20 percent of graduates having credit card debts of more than 7000 dollars.
Most of us in debt, in the rest of our life.