Report Shows Pitfalls of Credit Card Use

January 3, 2005 | | Epoch Times |
A group of New York City councilmembers released a report last week highlighting the pitfalls of credit card use.
"Too many Americans are drowning in credit card debt as a way to deal with the rise in the cost of living as their incomes have stagnated or dropped," said Tamara Draut, Director of the Economic Opportunity Program at Demos. "It's really has been the band-aid holding the family budget together since the 90s."