History shows us that we should not be overly concerned with the recent growth in consumer credit

With the economy now in recovery in the aftermath of the Great Recession, consumers’ use of credit it once again on the rise. Thomas A. Durkin looks at whether or not we should be concerned with this resurgent growth in consumer credit. He argues that while some consumers do have debt troubles, the growth in the credit using proportion of low income consumers has been small since the 1960s. As was the case in the past, the bulk of outstanding consumer credit is currently owed by those with higher incomes.