“Americans have over $886 billion in credit card debt, a figure that’s expected to rise to $1.177 trillion this year. More specifically, the report stated that each card holder has an average credit card debt of $5,100 and this number is projected to reach $6,500 by the end of the year.”
“The average U.S. consumer has a debt-to-income ratio of 150% … The ratio never exceeded 80% during the 1960s and 1970s.”
[FOX News has more.]
Government debt is, as Judge Napolitano put it, “so high, so insurmountable, so incapable of being repaid because the Republican leadership caved, that we have returned to business as usual; meaning that the government will not attempt to repay the debt. When various parts of it become due, the government will just roll it over and borrow more. This will go on until a large enough group in the Congress has the courage to say stop.
Still on the topic of “values,” a preponderant number of Americans share the values of their leaders, at least when it comes to finances.