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Who do we need two threads on this? I'm going to repeat what I said about credit card debt. In addition to credit card debt, those numbers include people finally able to buy homes and cars.
But how greedy and selfish and against social mobility does a person have to be to think it was good when large groups of Americans were not permitted (bank leverage requirements, anti self-employed regs, Operation Choke Point) to get mortgages or business loans or got their credit cards turned off???
This is a good thing. You have to keep in mind that the total debt figures include amounts that the user will pay off in full when their statement cycles.
People actively using charge cards means that commerce is happening. That amount growing probably says more about consumer confidence than impending disaster.
A lot of small businesses charge their credit cards up each month and then pay them off each month before incurring finance charges. This establishes creditworthiness and gives an operating capital buffer.
Access to capital is crucial for business and small business often has easier access to credit card debt than other types.
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