Consumer Debt Going Down?

Today, we all heard that consumer debt is going down. Total debt in May fell by $3.22 billion, to $2.52 trillion which is a good sign for Consumer and Country in the long run. But, for a short time it is good for Consumer and bad for the economy which in turn can affect consumer. It is hard to believe consumers are saving money during these tough times. It is good to hear that people are saving but we should also think about the people who are just raking up their debt using their credit cards. There are reports that American consumers' credit card debt dropped by 3.69%, we have to realize that it is not because people are not using the credit card rather it is because credit card companies are reducing the credit limit on the credit cards! Consumer debt going down is a good sign and some positive news for consumers.