[hiredhand]

I got it from a seminar that we attended by Dave Ramsey. You can get more current info by going to www.daveramsey.com and searching his site for - “consumer debt”. Look for a PDF in the search returns titled, “A Special Report on the Business Cost of Financial Stress.” I think the same info is contained in it.

[Toddsterpatriot]

Thanks for the link. I didn't find that claim in the PDF. I did see that consumer debt was $11.5 trillion in 2005. That's less than $4000 per person. Makes this...

When 90%+ of our citizenry carries $20k in consumer debt, spread across two credit cards, makes a house payment, two car payments, and is using credit to put one youngster in school, the outcome can NOT be good.

...sound vastly overstated