The following comes from an excellent Marketwatch article entitled "The American Dream is getting smaller".
"Americans believe financial security is at the core of the American Dream, but it is alarming that so many think it is beyond their reach," said Mike Fanning, head of MassMutual U.S. Almost everyone that will read this article will have debt.
We have been on the greatest debt binge in American history in recent years.
Collectively, Americans have more than $1 trillion in credit-card debt, according to the Federal Reserve.
We criticize the federal government for running up 21 trillion dollars in debt, and rightly so, but American consumers have been almost as irresponsible on an individual basis.
3 In 1980, the average American worker's debt was 1.96 times larger than his or her monthly salary.
9 At this point, the average American household is nearly $140,000 in debt.
https://www.zerohedge.com/news/2018-09-03/american-dream-getting-smaller-and-reason-why-painfully-obvious
"Americans believe financial security is at the core of the American Dream, but it is alarming that so many think it is beyond their reach," said Mike Fanning, head of MassMutual U.S. Almost everyone that will read this article will have debt.
We have been on the greatest debt binge in American history in recent years.
Collectively, Americans have more than $1 trillion in credit-card debt, according to the Federal Reserve.
We criticize the federal government for running up 21 trillion dollars in debt, and rightly so, but American consumers have been almost as irresponsible on an individual basis.
3 In 1980, the average American worker's debt was 1.96 times larger than his or her monthly salary.
9 At this point, the average American household is nearly $140,000 in debt.
https://www.zerohedge.com/news/2018-09-03/american-dream-getting-smaller-and-reason-why-painfully-obvious
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