Background: How much do we purchase and how do we pay for these
purchases? According to recent data from US Bureau of Economic
Analysis, U.S. consumer spending (personal consumption
expenditures) rose to over $14 trillion from June 2018 to June
2019. This includes spending on all categories, ranging from cars
and furniture to clothing and health care. At the same time, the
Federal Reserve reports that total household debt has increased to
approximately $13.67 trillion. This includes housing debt, student...