Debt, All The Way Down

Debt, All The Way Down

Debt isn’t just a national addiction, writes Crown CEO Chuck Bentley, in an article for Politico.  It’s something that’s seeped down into households, from rich to poor.  Recently, the Department of Labor noted that the bottom quintile of Americans spent more than twice their income through things like credit cards or loans.

The middle class also spends more than they take in, and now the United States has given everyone more than $51,000 in debt to worry about – that’s every man, woman, and child in America, more than the average mean wage for Americans.

Poverty and unemployment, naturally, is on the rise.  And there’s no quick fix for these big problems.

It’s time for leaders in Washington who have the discipline to get our fiscal house in order.  We are in for quite a slog.  But it’s for our nation’s future.

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