Debt is the four-letter word Americans hate to hear. Today, the average American household has debts totaling around $7,200. According to Aimee Picchi on CBS Moneywatch, American household credit card debt is increasing despite the fact that average household earnings have not experienced a similar increase to account for that new debt.
He gave up cable TV and sold his car. He has since found work in telemarketing but he has no plans to pay for cable or a car again. That's because Billy has given up on the idea of job security: "There's just no such thing." No cable, no car, no job security, and yet Billy is confidently middle class.