The reasons we as Americans buy on credit varies, but without it most of us would probably never be able to purchase necessities such as a home or automobile. The nation's economy depends on credit, the promise to pay later for goods and services used today; but along with consumer credit comes consumer debt. With the rise in telemarketing and commercializing in America it is no wonder why Americans feel the impulse to buy now, …
showed first 75 words of 492 total

showed last 75 words of 492 total
…because they need them and do not want to wait. Rather than saving they go into debt, the most common of which is installment debt. Bibliography 1. Miller, R. L., Economics: Today and Tomorrow, Hesterville, Ohio; Glencoe-McGraw Hill, 1995 2. 'Major Growing Pains' U.S. News and World Report (Oct. 21, 1996) Pg. 62-64 3. 'What's the Rate? They Won't Say.' U.S. News and World Report (Aug. 19, 1996) pg. 61 4. Lee, Susan Susan Lee's ABZ's of Economics New York; Poseidon Press, 1987