Mick Wright.net

The average U.S. household makes $67,609 a year and is $668,621 in debt — $546,668 being its share of federal government debt and another $121,953 owed privately to creditors (mortgages, car loans, credit cards and other debt).

It would take the average household 9.88 years to work its way out of debt, provided it hands over every penny earned in that span.

Discussion question: how are Washington’s policies correcting, or contributing to, this sorry situation?

This entry was posted on Tuesday, June 2nd, 2009 at 9:42 am and is filed under Data. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.