>Consumer Credit Hit $5 Trillion in January
(Washington, DC) -- Consumer debt hit five-trillion dollars as of January. According to the Federal Reserve, that's up slightly from the previous month but still down about a half-percent compared to a year ago. Revolving debt which includes credit card balances jumped over eight percent on an annual basis. Other debt, such as auto loans and student loans rose three-percent during the same period. In the last year, credit card debt rose to a record one-point-two trillion dollars as Americans spent more on goods and services.