"Record Holiday Spending Threatens Economy, Experts Warn of Credit Card Debt Crisis"
Experts are warning of a potential credit card debt crisis as record holiday spending threatens an uncertain economy. Despite concerns about the state of the economy, a record 200.4 million consumers spent money over the Thanksgiving holiday weekend, with online shopping being the preferred destination for 44% of shoppers. Black Friday remained the most popular in-person shopping day, while Cyber Monday saw the biggest online sales. The National Retail Federation forecasts a 3-4% growth in holiday spending this year, but experts caution about high interest rates and the potential for credit card debt.