WHY did the General Services Administration think issu- ing credit cards with Uncle Sam's name on them was a good idea?
Credit cards do more than unlock doors--they disable consumers' spending-restraint mechanisms. Experts say we spend 34 percent more when we buy with plastic instead of cash or check.
What's more, U.S. credit-card debt is soaring: From a tally of $60 billion in the first quarter of 2002, it has risen to more than $915 billion today. Forty percent of Americans, says the Federal Reserve, spend more than they make.
