New Report: Drowing in Debt
Posted by on January 22, 2007
Drowing in Debt: America’s Middle Class Falls Deeper in Debt as Income Growth Slows
Christian Weller, Center for American Progress
May 2006
America?s middle class is drowning in debt. A typical middle income family earning around $45,000 a year saw its debt burden grow by 33.1% between 2001 and 2004, even after adjusting for inflation. Debt relative to income rose even more, to 33.9%, during this period for middle income families. Personal bankruptcies among these households are rising steeply.
Read more at:
http://www.americanprogress.org/issues/2006/05/b1655517.html
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