Average American family lives with debt burden of over $200,000
For most Americans, life does not come easy. Many US citizens can barely make their ends meet. This is evidenced by American financiers and researchers, sociologists. A recent survey said that as much as 60 percent of citizens of the United States find themselves in this situation, Pravda.Ru reports.
As many as 25 percent of average Americans live in debt, whereas 13 percent more do not have any savings for a "rainy day."
Experts point out that the US economy remains in a critical situation due to the overwhelming public debt of the country. Should the economic situation in the United States worsens, most of the American population will face very difficult times.
Prospects for the younger generation are not inspiring either. Most students come from poor families and have difficulty paying for their studies, Pravda.Ru says.
Approximately 52 percent of the American population spend their savings on for housing or rent.
According to research conducted by Atif Mian of Princeton University and Amir Sufi of the University of Chicago Booth School of Business, 40 percent of Americans could not come up with $2000 right now without borrowing it.
Currently, an average household in the United States of America carries a debt burden of $203,163.
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