Recently President George W. Bush admitted the American people are addicted to oil, assuming that this also includes him and all the rest of the Bushes. But let's table that for the time being and analyze some of the other addictions that permeate the population.

There's sugar, for starters, an addiction which is acquired at a very early age - infancy. Next comes caffeine and this applies to anyone who on a regular basis consumes coffee, tea, Coca-Cola, Pepsi, Mountain Dew or any of the many soft drinks that contain sizeable amounts of the drug.

We could ramble on and on about things we're addicted to, but for my book, right up there with Almighty Oil sits what is now an American institution could even be counted as a staple... the Almighty Credit Card.

Most people can't walk out the front door today without their credit cards. This nation is so incredibly hooked on plastic that many businesses no longer take cash payments. This has given new meaning to the phrase, "Your money's no good here." So out of whack is our monetary process now that I must now present a check or money order to pay my auto insurance premium (or, use a credit card, of course). I've seen people in line ahead of me in the grocery store pay for a bag of potato chips, a candy bar and a Coke using their credit card.

Each monthly credit card statement has near the bottom the words "minimum payment." Does anyone realize that if you just make the monthly "minimum payment," it could take a year and a half or even longer to pay the debt off? That is, of course, provided you don't ever charge another thing during that time. You think this is just coincidence or bad math? Think again. When you close in on "maxing out" your credit card out, lo and behold... in the mail comes another card with a higher debt limit!

"Wow," you exclaim, "just in the nick of time." But something also happens that many aren't aware of. Your interest rates are now higher. Why? Because the credit card company feels that you have borrowed just about as much as you can handle. They make this determination, not you, and without ever asking for your input, and this is referred to as "universal default" - even if you haven't defaulted on anything.

But if you persevere, you'll discover that you can get yet another credit card... to pay off the debts of your other cards (at a higher interest rate, of course.) You have to hand it to these credit companies, they think of everything without skipping a beat or missing a thing.

Most Americans have no idea what their credit score is or how it's computed, or with whom it's shared. Maybe you have decided that it's not that important or it takes too much time, but I suggest you do some homework and make inquiries at any lending institution.

There is no limit on the amount a credit card company can charge a cardholder for being even an hour late with a payment. In 1996, our wonderful Supreme Court lifted the restrictions on the limits a credit card company may charge for late fees. Also since 1996 the amounts collected for late fees have more than doubled. Do the math, folks. Banks now charge anywhere from $5 to $30 for late fees and next year they are predicted to go as high as $50. With the eminent domain ruling, banks and corporations can not only take your property, but your life as well...

If you're still in the mood for a credit card, then it's absolutely critical that you read the "fine print" on your credit card agreement. No, they are not standard and they definitely aren't all the same. For example, if you take out your magnifying glass, and you should, you might notice a seemingly innocent little clause that allows the company to change your interest rate...and at any time. All they're required to do is give you 15 days notice. There is also no federal regulation limiting interest rates a credit company can charge. Still think our government is looking out for you?

Significant credit card debt can put you at a markedly higher risk of bankruptcy. Bankruptcy normally isn't the result of a spending spree or a spending "binge." Bankruptcies are initiated by job loss, medical problems and expenses and divorces. When any or more of these three things happens, one usually turns to credit cards to keep his/her head above water. Problem is, sooner or later one runs out of sources of income, resulting in delinquent payments, huge late charges and of course, higher interest rates.

Help is available. If you feel the above symptoms coming on, get a copy of your credit rating, study it and understand it and then contact a Better Business Bureau to help you find a reputable organization that will actually help you, instead of ripping you off....some more!

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