In my last blog, I showed that average credit card debt was much less than the ballyhooed number of $9,300 per household. Many researchers (Elizabeth Warren, Economic Policy Institute, and Center for American Progress to name a few) cite the growth of debt in relation to disposable income -- rising from 74 percent of income in 1979 to 132 percent in 2005 -- as proof that consumer debt has reached unsustainable levels.
While it this sounds like a scary number,...
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