ICR, an independent research company, recently released some scary figures.
The amount of Americans who owe half their monthly incomes or more: 68%.
Forty-three percent owe three-quarters of their monthly incomes or more.
To banks.
You know, the ones that got the billions in bailout money.
Loans and credit cards.
NOT taxes.
I don't know how to digest something like this.
I think it means almost half of the American population are living on a quarter of their monthly earnings.
Which explains why not too many people are going on shopping sprees these days.
Then there are those who are at the top of the survey.
Debt royalty.
The ones who owe MORE than their monthly incomes.
20% of the population are in that boat.
Two out of ten people.
Owe more than they make.
They need a bailout.
It ain't coming.
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