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The Next Credit Crisis?
(AP Photo)

(AP Photo)

Easy consumer credit is nothing new, but Americans are turning to their credit cards as never before — and racking up debt at unprecedented rates.

Never before, we’re told, have so many Americans owed so much at such high interest rates. And with mortgage troubles deepening, and the economy struggling, some fear personal debt could be the next shoe to drop.

Last week, the House Judiciary Committee voted to move forward with a bill that would rein in the American credit card industry, but consumer advocates say Washington isn’t going far enough to tame an unruly credit-card industry. What can consumers, lenders, and the government do to avert a crisis?

This hour, On Point: You’re pre-approved! Credit cards, consumers, and a nation in debt.

You can join the conversation. Are you in debt on your credit cards yourself? If so, have you been splurging, or are you using your credit cards just to survive?

Guests:

Joining us from Cambridge, Mass., is Elizabeth Warren. She’s the Leo Gottlieb professor of law at Harvard Law School, and an expert on credit card debt and bankruptcy. She’s written several books, most recently “All Your Worth: The Ultimate Lifetime Money Plan” which she co-authored with her daughter Amelia Warren Tyagi.

Joining us from Portland, Oregon, is J.D. Roth. He’s the man behind the well-known personal finance blog “Get Rich Slowly.” The blog started out as a chronicle of how he himself overcame $35,000 of personal debt, including about $20,000 in credit card debt.

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ONPOINT
TODAY
Feb 27, 2015
Federal Communication Commission (FCC) ChairmanTom Wheeler, center, joins hands with FCC Commissioners Mignon Clyburn, left, and Jessica Rosenworcel, before the start of their open hearing in Washington, Thursday, Feb. 26, 2015.  (AP)

A US-Israel rift. A win for net neutrality. “American Sniper” verdict. Our weekly news roundtable goes behind the headlines.

Feb 27, 2015
This image released courtesy of the Lead Belly Estate shows folk and blues musician Huddie William Ledbetter, better known as Lead Belly. Huddie "Lead Belly" Ledbetter never had a hit record before he died of Lou Gehrig's disease in 1949. (AP)

Going back to Lead Belly. The blues legend is back. His influences, as big as ever.

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Feb 27, 2015
This image released courtesy of the Lead Belly Estate shows folk and blues musician Huddie William Ledbetter, better known as Lead Belly. Huddie "Lead Belly" Ledbetter never had a hit record before he died of Lou Gehrig's disease in 1949. (AP)

Going back to Lead Belly. The blues legend is back. His influences, as big as ever.

 
Feb 27, 2015
Federal Communication Commission (FCC) ChairmanTom Wheeler, center, joins hands with FCC Commissioners Mignon Clyburn, left, and Jessica Rosenworcel, before the start of their open hearing in Washington, Thursday, Feb. 26, 2015.  (AP)

A US-Israel rift. A win for net neutrality. “American Sniper” verdict. Our weekly news roundtable goes behind the headlines.

On Point Blog
On Point Blog
Our Week In The Web: February 27, 2015
Friday, Feb 27, 2015

We won’t lead you into a debate on the color of #TheDress (it’s blue and black, end of debate), but we do wonder about the blurring lines between so-called Internet culture and general popular culture. Also, it’s snowing in Boston. Still.

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Two Congressmen Weigh In On DHS Funding
Tuesday, Feb 24, 2015

Rep. Jim Jordan of Ohio and Rep. Chris Van Hollen of Maryland present their views on the ongoing Congressional budget fight over Department of Homeland Security funding. (Spoiler: They do not agree on a resolution of the crisis).

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Our Week In The Web: February
Friday, Feb 20, 2015

We explain what happened with the old podcast feed this week and last, share some other Oscar categories and reminisce about the golden days of Double Rainbows and Honey Badgers who just don’t care.

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