December 24, 2012
IN OTHER WORDS, IT WAS NEVER A PROBLEM:
Consumers Climb Out of Debt (BEN CASSELMAN, 12/24/12, WSJ)
U.S. households spent 10.6% of their after-tax income on debt payments in the third quarter of the year, the lowest level since 1983, according to recently released Federal Reserve data. Add in other required payments that aren't classified as debt--such as rent and auto leases--and the figure rises to 15.7%, also near a 30-year low.
Posted by Orrin Judd at December 24, 2012 5:36 AM
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