American debt and Savings

[Wino]

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The only good news in this entire set of slides is that most debt is for housing of some sort. The most eye-opening - to me - is the amount of per capita credit card debt to savings ($7K debt to $190 savings).

I was part of the bad part of these graphs just a few years ago.

[MonkeyMama]

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The only good news in this entire set of slides is that most debt is for housing of some sort.

Actually, I'd even question that statistic. The foreclosure rate is sky high where I live because people were using mortgages to pay for all their consumer goods (especially cars and vacations) and to live beyond their means rather than adjust spending when the economy soured. & if you asked them they'd defensively say, "I don't have any debt - just a mortgage." So I think it's less that people borrow most money for their house - more that they borrow "for anything and everything" against their house.