New laws are now forcing credit card companies to double their minimum dues begining this month. For many people I know who make just enough to cover ther credit card's minimum due payments, this is going to hit hard and hurt.
I don't have credit cards so this won't hit me directly thankfully. However, I imagine that many people will no longer afford themselves their usual spending because they won't have any extra money to do so. It will be interesting to see how this affects the economy...
My guess at this point is that it will hurt restaurants first because when people have little to no money one of the first things I hear people say is, "I just won't eat out; I'll cook at home instead." Great for grocery stores, bad for restaurants...
Anyhow, if you'd like to read more about it here's an article on the ABC news website for you. http://abcnews.go.com/Business/US/story?id=1457121