Definitely worth a read, the Washington Post Article "Five Myths about America's Credit Card Debt", click here to go there.
However, this article, and the media in general are still afraid to connect the destruction of local economies all over the country to "too big to fail" national banks that are taking the interest they charge on consumer credit card debt and either pocketing it as billions in bankster bonuses, or reinvesting the money anywhere but in local U.S. Economies.
The article also does not then show the link between the 15 billion dollars a month being stolen by banks in the form of interest rate charges on EXISTING credit card debt and the increase in home foreclosures.
Sadly, the banks eventually may make out ok since they can take over ownership of foreclosed homes for pennies on the dollar, and either hold on to them or simply resell the foreclosed home to those whomever they like, while still sticking the original homeowner with the entire debt based on the original price of the home and what they gave the home away to in auction.