Total U.S. debt breaks $19 trillion mark: Total debt rises by $8.4 trillion in last 8 years and is on pace to hit $22 trillion by 2020.
When the party is getting ready to end, you might as well ramp up the spending and put it on the nationwide credit card. Total U.S. debt blew right through the $19 trillion mark and has expanded by $8.4 trillion only in the last 8 years. There are countless obligations in the form of Social […]
What the heck? U.S. Public Debt up $518 billion in November alone: U.S. debt ceiling made of toilet paper.
You might remember that back in March, we hit our debt ceiling limit. The amount registering on the U.S. Treasury Department website was stuck at roughly $18.15 trillion. Of course given our addiction to spending and debt, we simply charged all new spending off the books. We as a country have a deeply rooted addiction […]
The American Dream deferred: Looking at the 4 horsemen of middle class destruction. Student debt, household income, low wage jobs, and FIRE economy dominance.
The angst that is being manifested in the political arena is largely being brought on by economic uncertainty. There is a general underlying anxiety of living in a United States with a weakened and invisible middle class. We are heading directly into that scenario with both eyes fully wide open. Many of the new jobs […]
Credit card debt makes up for lack of income growth: Credit card debt outstanding back up to $900 billion. Since 1980 household income up 300% while credit card debt up 1,760%.
The middle class started disappearing in earnest in the late 1970s. Massive inflation started eating away at the standard of living for most Americans. Yet much of this was covered up by access to debt. Credit cards, creative mortgages, student loans, and auto debt all allowed Americans to continue acting as if prosperity was only […]