EVERYTHING IS GOING SWIMMINGLY: 56 million Americans have been in credit card debt for at least a year. ‘We are seeing pockets of trouble,’ expert says.A

ltogether, card balances now total $1.08 trillion, according to the latest quarterly report from the Federal Reserve Bank of New York, a new record.

“Over the past two years, Americans’ credit card balances have skyrocketed 40%,” said Ted Rossman, senior industry analyst at Bankrate.

“While Americans are managing their credit card debt pretty well, all things considered, we are seeing pockets of trouble at the household level,” Rossman said.

More cardholders are carrying debt from month to month and fewer are able to pay off their balances in full, according to a separate report by Bankrate.com.

They keep telling me the economy is booming but all I see is mountains of debt.