Debt Matters — Debt Hurts

Americans are worried about debt and believe it is just going to get worse. "The public is more worried about falling into debt, particularly from medical bills, than about being the victim of a terrorist attack or a natural disaster." According to a new poll sponsored by the Center for American Progress, 86 percent "insist the number of Americans having trouble with household debt has gone up in the last five years." Unfortunately, their worries are well-grounded in reality. The average American savings rate in 2005 was negative 0.5 percent, "the lowest since the Great Depression." As everyday expenses continue to rise, the problem of debt will continue to burden working Americans.

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