The Federal Reserve's consumer credit report for July 2012 shows a 1.5% annualized monthly increase in consumer credit. Revolving credit declined, -6.75%, and nonrevolving credit increased 1.0%. The Credit Kraken went back into it's cave.
What does this imply just saddling the deficit in such rapid succession when the United States already is running on fumes due to bad policy and a absurdly expensive war?
Here's a laugh, just a couple of months ago the CBO was horrifying people that the bail out would cost $25B and they even claimed there was a 50% change that money would not be needed.
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