With projections for credit-card debt in 2016 near unsustainable levels not seen since the Great Recession, WalletHub asked a panel of credit experts, including Professor Charles Tabb, to shed light on the irresponsible credit behavior that leads to such negative results and the effects of such mistakes on the overall economy. Here are his answers. 

What daily behaviors lead people to amass credit card debt?

ConvenienceOnline transactionsGetting behindInadequate planning and projecting future income and expensesFailing to consider unexpected expensesPressures of a consumer society

What is the biggest mistake people make when managing credit card debt?

By far, not paying balance in full every month.

How does the growth of credit card debt affect the economy?

Fuels growth by spurring spending.

What role, if any, should government play in incentivizing and encouraging people to maintain low debt to income ratios (e.g., through tax incentives, etc.)?

Government should not play a role.

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