Profit! It's All American. Investors, here is your next growth industry:

"Americans are using high-interest credit cards to pay for what should be a necessity," said report co-author Mark Rukavina. "The health care safety net is made of plastic."

Bank of America and JP Morgan Chase, both of which have credit card operations in Delaware, wouldn't comment on the report.

Americans are resorting to credit cards because health care costs are increasing faster than incomes, the report said.

"Over the past six years, health insurance premiums have increased by 73.8 percent while median income has grown by only 11.6 percent. A family health insurance policy is now equivalent to 18 percent of median family income, up from 8 percent in 1987."

Once again I'm reminded of just how stupid our financial leadership class really is. Laugh along with me:

But according to Craig Focardi, an analyst with TowerGroup, a financial industry consulting firm, federal bankruptcy laws passed last year could also help make it less likely that banks will push for foreclosures when consumers become delinquent with mortgages.

Focardi said that under the new bankruptcy law, secured creditors like mortgage lenders "have to share more of a debtor's income with credit card, automobile, and other consumer lenders that hope to increase collection recoveries" in a bankruptcy proceeding.