US consumer credit card debt fell $7.32 billion in May, at an annualized rate of 10.5 percent, according to a recent Fed report. The drop represents a considerable acceleration compared to the first quarter's 9 percent annualized decline.

As the Senate returns to work this week, millions of unemployed Americans will be anxiously waiting to see if Senate Democrats will find the last vote needed to pass the unemployment extension for the long-term unemployed.