Credit card debt: Don’t forget the lessons from financial crash
News from Tulsa World:

Credit card debt dropped in 32 of the 36 months of 2009 through 2011 as cardholders spent less and issuers lowered credit limits, tightened approval guidelines and canceled risky accounts, says Bill Hardekopf, CEO of

However, the Federal Reserve’s monthly G19 report shows consumer borrowing is again increasing – by $ 7.65 billion to $ 2.46 trillion in October, the biggest increase in two years. Credit card debt rose $ 366.2 million in October, while auto, mobile home and education loans increased $ 7.28 billion.

Credit card issuers are again filling the mail with offers – mostly to those with good to excellent credit. Everyone is receiving more card solicitations with attractive rewards and balance transfer offers.

We must not forget the past three years and the hardship large credit card balances caused us, Hardekopf says. Paying off debt wasn’t easy, and some of us still have debt problems and wonder what can really be done about it.

Total: Assess exactly what you owe for all credit card debts. It was easier to pay the minimums without looking at the totals, but misleading yourself only made things worse. Write down a debt summary including creditors, monthly paymen…………… continues on Tulsa World

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Reality Check: What happened to Obama’s 2011 State of the Union promises
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By: Caroline Fairchild and Dane Huffman |

Roughly one year ago, President Barack Obama addressed Congress in the 2011 State of the Union Address. Obama faced the difficult challenge of outlining his plan to “win the future” to a nation still reeling from the tragic shooting in Tucson, Ariz., that claimed six lives and seriously wounded Congresswoman Gabrielle Giffords.

Speaking to a divided Congress now led by Republican John Boehner as Speaker of the House, Obama stressed the importance of putting aside partisan differences as the country worked toward staying competitive on a global scale.

The president vowed to rebuild America’s infrastructure with a combination of spending initiatives in clean-energy technology, education, high-speed rail and high-speed Internet and deficit reduction through spending freezes and tax cuts. Calling upon Americans to continue to “out-innovate, out-educate and out-build the rest of the world,” Obama remarked that the country should be searching for its next “Sputn…………… continues on

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