If you were curious, Americans had nearly $1.2 trillion in credit card debt as of end-Q3.

That’s according to the latest quarterly installment of the New York Fed’s household debt report, released on a day when virtually every headline had the word “Trump” in it.

To be precise about things, Americans’ card balances were $1.166 trillion, up $24 billion from the prior quarter, and a new all-time high.

At the same time, the total number of credit cards Americans own topped 600 million, or 2.3 cards for every adult in the country.

The usual footnote applies: The NY Fed doesn’t de-duplicate the series, which means the 600 million figure’s overstated due to double-counting of jointly-held accounts. Still, Americans have a lot of credit cards, and a lot of revolving debt on which they’re paying an average APR of 22% or so.

If you’re wondering whether the ongoing growth in overall card balances is “just inflation,” the answer’s “no.”

That chart admits of innumerable caveats. I present it as is: The difference between the growth rate for quarterly card balances as reported by the NY Fed and YoY CPI, measured on a quarterly average basis.

On a naive reading, card balances are growing faster than prices for the goods and services those balances were incurred to finance. Of course, card balances include interest charges, and so on. Again: Lots of caveats.

On the bright side, Americans have ample room to keep spending money they don’t have.

America’s overall credit card limit is roughly $5 trillion. Subtract the above-mentioned $1.166 trillion from that and you get $3.82 trillion in additional spending power.

Generic, lazy punchline alert: What could go wrong?