Americans' credit card debt hits a record $1 trillion | CNN Business
www.cnn.com
Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.

Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.

  • gila@lemmy.world
    2·
    1 year ago

    Paying a portion later means more cash can flow through the business and provide utility today. Your post implies that every business operating this way is effectively insolvent without access to credit, but even if your employer has the money to pay for the raw materials today, it generally isn’t in their best interest to do so