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Empty Plastic

While economists and the mainstream media tried hard to get everyone excited by today’s “better-than-expected” employment report (which included an unusually large and likely-to-be-reversed spike in hiring in the “Couriers & Messengers” category), they failed to mention one thing: even if they’re are a few more jobs around, that doesn’t necessarily mean Americans are going to go out and start buying stuff.

For one thing, they have a lot of other obligations to take care of first.

As Card Hub CEO Odysseas Papadimitrioas seems to make clear in a CNBC Guest Blog post, “Break Out the Budgets, Study Reveals US Consumers Increasingly Overleveraged,” U.S. consumers haven’t made any real headway when it comes to paring down high debt loads and getting their financial houses in order.

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