week 4Critical Thinking (graded)Welcome to our discussion of critical thinking! To begin our discussion, we will explore the topic of relevant questions. Questions direct thought and thought directs action. So, think of a situation where the outcome was a result of your choices or decisions but did not turn out as you expected. Then, answer the following questions:Did you follow a logical process of analysis based on relevant questions? Did your question direct your thoughts? Did those thoughts direct your actions? What questions would you ask if you were given the opportunity to reshape the outcome of this situation?Library Research (graded)Handley (2012) writes that a 2011 study found Americans are charging more, a lot more, on their credit cards once again.Americans racked up nearly $48 billion in new credit card debt in 2011, 424 percent more than what they charged in 2010, and 577 percent more than in 2009. Although total outstanding credit rose only about $4 billion, that number was largely offset by the magnitude of consumer defaults–$44.2 billion worth. “Looking back two years, with the exception of a single quarter, U.S. consumer debt management has consistently worsened,” the report said, noting that the recent trend of consumers paying down debt doesn’t match up with the hard data. “First-quarter pay-downs have become less significant and the amount of new debt added in each subsequent quarter has grown compared to its respective counterparts in the previous two years (p. 8).Handley, M. (2012, March 16). Assessing the debt explosion. U.S. News Digital Weekly, 4(11), 8. The fact that consumer credit card debt is continuing to worsen and default rates are reaching staggering amounts raises a number of troubling questions.To address such important matters, responsible citizens, policy makers, and leaders utilize research to draw conclusions and make important decisions wisely. We will use this threaded discussion to learn more about credit card use and then make decisions based on our research.Read Library Database Research Strategies in DocSharing Week 4 for tips on finding appropriate sources. (Don’t forget to evaluate those sources based on the criteria discussed last week!)Using a library research database such as Academic Search Complete or Business Source Complete in EBSCOhost, find one good article on ONE of the three topics below. Select an article that will help you answer the questions given with your topic below.Financial Literacy. Over the past decade Financial Literacy has received increasing attention in all levels of schools. What does it mean to be financially literate? How do financially literate people handle credit cards?Credit Ratings Companies such as the Fair Isaac Corporation (FICO), CoreLogic, Experian, and others provide lenders with credit ratings. What are some of the key factors considered in calculating these scores? Decide what you can do to have as good a rating as possible.Debt.How do the policies and availability of credit cards affect students debt? What is the potential impact on students financial future? What can be done to ensure people enjoy a secure financial future?Read your selected article carefully.For your first post, write a paragraph in which you use the article to help answer the questions for your topic. Be sure to refer to the article in your writing.Review the Week 3 Lecture section titled Avoiding Plagiarism and Week 4 Lecture section titled APA Documentation to help you properly use and cite your article in your post. (Note how the Handley article was used and cited at the beginning of this discussion assignment.)Save your article as a PDF and then share it with the class by using the Attach function to append it to your post.Welcome to our discussion of critical thinking! To begin our discussion, we will explore the topic of relevant questions. Questions direct thought and thought directs action. So, think of a situation where the outcome was a result of your choices or decisions but did not turn out as you expected. Then, answer the following questions:Did you follow a logical process of analysis based on relevant questions? Did your question direct your thoughts? Did those thoughts direct your actions? What questions would you ask if you were given the opportunity to reshape the outcome of this situation?Handley (2012) writes that a 2011 study found Americans are charging more, a lot more, on their credit cards once again.Americans racked up nearly $48 billion in new credit card debt in 2011, 424 percent more than what they charged in 2010, and 577 percent more than in 2009. Although total outstanding credit rose only about $4 billion, that number was largely offset by the magnitude of consumer defaults–$44.2 billion worth. “Looking back two years, with the exception of a single quarter, U.S. consumer debt management has consistently worsened,” the report said, noting that the recent trend of consumers paying down debt doesn’t match up with the hard data. “First-quarter pay-downs have become less significant and the amount of new debt added in each subsequent quarter has grown compared to its respective counterparts in the previous two years (p. 8).Handley, M. (2012, March 16). Assessing the debt explosion. U.S. News Digital Weekly, 4(11), 8. The fact that consumer credit card debt is continuing to worsen and default rates are reaching staggering amounts raises a number of troubling questions.To address such important matters, responsible citizens, policy makers, and leaders utilize research to draw conclusions and make important decisions wisely. We will use this threaded discussion to learn more about credit card use and then make decisions based on our research.