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"Why are Americans so deeply in debt? It's not because they are using credit cards to buy plasma TVs and premium coffee drinks at Starbucks. The real culprits, according to a new analysis, are the rising costs of housing, health care and education."
Further along in this Washington Post article (Link here: http://tinyurl.com/fk52g), this appears:
"Real wages, after adjusting for inflation, have been flat since 2001, according to the study, while the cost of big-ticket items for which families pay the most rose."
And at the end of the article:
"At their news conference, Weller and Warren urged Washington policymakers to consider the implications of consumer debt before families are crushed by rising costs and damaged credit. They predicted that otherwise, many families will lose their homes through foreclosure when bankruptcy law changes make it more difficult for households to escape debts."
So anyway, the prolonging of Bush's tax cut for the wealthy is doubly galling after seeing the above.
SIRATYST (Stuff I Read and Thought You Should Too) -- “To ravage, to slaughter, to usurp under false titles, they call empire; and where they make a desert, they call it peace.” (Calgacus, as quoted by Tacitus, Agricola 30-31)"
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