Americans are spending, but where's the money?

Three words: Credit cards, muthafucka.

Consumer debt has more than doubled in the past 10 years to record levels, making it hard for many families to cope.

...Consumer debt hit a record $1.98 trillion in October 2003, according to the most recent figures from the Federal Reserve. That debt — which includes credit cards and car loans, but not mortgages — translates to some $18,700 per U.S. household.

You should read the whole article. It goes on to discuss how this credit card debt started during the 80's, attributed to the boom in the 90's, and it's what people continue to do now. ANd if I remember correctly, the Republicans keep telling us that people are buying and the economy is great, well what happens to the economy when people buy and can't afford to pay for it later?