The conventional wisdom is that Americans are borrowing less, saving more, and that revolving debt (such as credit card debt) is a thing of the past. For example, Bloomberg reports that debt levels fell in July.
That's good news if overextended consumers contributed to the financial crisis. However, some people see things differently. It's possible that consumer debt is really increasing, but we can't tell by glancing at the statistics.
CardHub.com suggests that consumers are racking up credit card debt again after a short break in 2009. They say debt levels decreased largely as a result of chargeoffs - banks giving up on unpaid loans. I haven't studied this closely, but it's an interesting idea.
There may also be a tale of two borrowers here: people in financial trouble have defaulted, and it's unlikely that they can borrow more. However, consumers with good credit may have renewed their appetite for debt.
Are you borrowing more or less? Tell us about it in the comments.