Consumer debt is nearing $2 trillion, according to Federal Reserve. That equals more than $18,000 per household, not including mortgages.  Economic analysts are concerned that these high debt levels might pose a risk to the financial health of American households. Combined with low savings figures, this debt could likely lead to increased household delinquencies and bankruptcies.  The best thing you can do is to focus on improving your personal economy.  Paying down credit card debt is a great place to start.

The first thing you should do is quit charging on your credit cards and start living entirely on a cash basis. If you don't have the money to pay cash for any purchase, you can't afford the purchase and you must forego the purchase until you have money to pay cash. This will require you to radically change your attitude on how you look, act and feel about money.   Once you have made a commitment not to add debt, it is time to repair damage already done. There are two popular methods that people use to tackle debt. 

One is to concentrate on paying off the debt with the smallest balance first (never forgetting to make required payments to all debts, of course!)  After that balance is repaid, you can then apply that payment to the card with the next smallest balance and continue the process until all debts are satisfied.  This method can be very rewarding because you see progress quickly. 

The other popular method is to first concentrate on repaying the debt with the highest interest rate.  This method will save you the most in interest charges over time.  Regardless of the method you choose, be patient and persistent.