Even when times are tough, it's so easy to just pull out a credit card to pay for that pair of shoes, groceries or even a new iPhone.

But it looks like consumers may be spending more than they have. The Federal Reserve reported Tuesday that borrowing by consumers rose at an annual rate of 7.4% in November 2007 -- a huge jump from the 1% increase in October.

Credit card debt alone rose at an annual rate of 11.6% in November, the highest level in six months. Auto loan debt increased at an annual rate of 5.1% after a decline of 3.5% in October.

The total amount of outstanding consumer debt across the U.S.: $2.51 trillion.