Consumer Reports Rains on Holiday Spending...For Good Reason

As only Consumer Reports can do - being all unbiased and all - a new full page ad appearing in Monday's USA Today will inform shoppers "There is no 'bailout clause' in your credit card contract."

Damn, what a way to rain on the annual Holiday credit card spree! But with consumers owing upwards of a trillion dollars in debt, using cash to buy Christmas gifts this year might not be such a bad thing...or habit to get into as we all play out part in reducing America's debt. Which, by the way, we did to ourselves and should get out of ourselves without a government bailouot...which will only cost us later.

Admittedly, economics isn't Adrants' strong suit but it seems obvious if you can't afford to buy something you should just, well, not buy it. No matter how much you want it or how cheaply a bank will lend you money.