Credit card debt The Next Crisis after subprime

Subprime mortgage disease can benefit from the headlines, but the rapid growth of personal debt mortgages, credit cards and other loans is part of a much larger problem faced by millions of Americans.

"It was an explosion of credit card debt," Dean Starkman, senior business journalist at the Columbia Journalism Review reported ABC News. "At the end of 60 years he was in the 10 billion U.S. dollars adjusted for inflation. Today it is $ 900 billion."

"We have something like one third of all households have credit card debt to $ 10000th"

Exiting a polling station on Tuesday showed primary harsh reality. Almost eight in 10 Democratic voters in Ohio, said she worried about her family finances and the four in 10 are "very" concerned about them.

The American Bankruptcy Institute reports personal bankruptcy applications in February rose by more than 15 percent compared to January.

"What's surprising about the increasing application of bankruptcy procedures is that they have increased, despite the bankruptcy rules, it is almost impossible for many Americans," said Gary Shatsky financial adviser employees.

How can so many Americans have debt problems, even before the current economic downturn?

"Almost everyone can credit card, and it can be exchanged for almost everything," said the psychology professor Stuart Vyse of Connecticut College, wrote a new book "Going Broke: Why Americans can not keep their money."

"We have the opportunity to buy things at home, on the Internet through television, more than 800 rooms, as well as with mobile phones and mobile devices, it is much easier to do," said Vyse.

The market is always open, and therefore much more easily accessible.

"Thirty years ago, if you want to buy something… you had to go through the town, and you would have money. It needs a lot more effort to do," said Vyse.

And you can use borrowed money to pay for all your purchases. Before the credit card, which was much more difficult to make.