{"id":31169,"date":"2018-02-18T14:19:37","date_gmt":"2018-02-18T19:19:37","guid":{"rendered":"http:\/\/olduvai.ca\/?p=31169"},"modified":"2018-02-18T14:19:37","modified_gmt":"2018-02-18T19:19:37","slug":"debt-cancer-more-than-80-percent-of-american-adults-owe-somebody-else-money","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=31169","title":{"rendered":"Debt Cancer: More Than 80 Percent Of American Adults Owe Somebody Else Money"},"content":{"rendered":"<div class=\"post-headline\">\n<h3><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/debt-cancer-more-than-80-percent-of-american-adults-owe-somebody-else-money\">Debt Cancer: More Than 80 Percent Of American Adults Owe Somebody Else Money<\/a><span style=\"color: #333333; font-size: 16px;\">\u00a0<\/span><\/h3>\n<\/div>\n<div class=\"post-bodycopy clearfix\">\n<p><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/debt-cancer-more-than-80-percent-of-american-adults-owe-somebody-else-money\/no-money-public-domain\" rel=\"attachment wp-att-13510\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-13510\" src=\"http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2018\/02\/No-Money-Public-Domain-460x259.jpg\" sizes=\"auto, (max-width: 460px) 100vw, 460px\" srcset=\"http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2018\/02\/No-Money-Public-Domain-460x259.jpg 460w, http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2018\/02\/No-Money-Public-Domain-300x169.jpg 300w, http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2018\/02\/No-Money-Public-Domain-768x432.jpg 768w, http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2018\/02\/No-Money-Public-Domain-425x239.jpg 425w, http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2018\/02\/No-Money-Public-Domain-400x225.jpg 400w, http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2018\/02\/No-Money-Public-Domain.jpg 960w\" alt=\"\" width=\"460\" height=\"259\" \/><\/a>How long can our debt levels keep growing much, much faster than the overall economy?\u00a0 We haven\u2019t had a year of 3 percent growth for the U.S. economy since the middle of the Bush administration, but we keep borrowing money as if there is no tomorrow.\u00a0 Much of the focus has been on the exploding debt of the federal government, and that is definitely something I plan to address <a title=\"once I get to Washington\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-next-90-days-will-determine-whether-michael-snyder-goes-to-congress-and-we-need-a-50000-miracle\">once I get to Washington<\/a>.\u00a0 But on an individual level, U.S. consumers have been extremely irresponsible as well.\u00a0 In fact, one new survey has found that more than 80 percent of all American adults <a title=\"are currently in debt\" href=\"https:\/\/www.usatoday.com\/story\/money\/personalfinance\/budget-and-spending\/2018\/02\/17\/its-official-most-americans-are-currently-in-debt\/110443996\/\" target=\"_blank\" rel=\"noopener\">are currently in debt<\/a>\u2026<\/p>\n<blockquote>\n<p class=\"speakable-p-1 p-text\">It\u2019s no secret that America is a nation that runs on debt, but it may surprise you to learn that the overwhelming majority of U.S. adults owe money in some way, shape, or form. According to <a title=\"new data from Comet\" href=\"https:\/\/www.cometfi.com\/details-of-debt\" target=\"_blank\" rel=\"noopener\">new data from Comet<\/a>, here\u2019s how many Americans have debt at present:<\/p>\n<ul>\n<li>80.9% of Baby Boomers<\/li>\n<li>79.9% of Gen Xers<\/li>\n<li>81.5% of Millennials<\/li>\n<\/ul>\n<\/blockquote>\n<p>For most of us, it starts very early.\u00a0 We were told that going into debt to get a college education would not be a problem because we would be able to pay those loans off with the good jobs we would get after graduation.<\/p>\n<p>Unfortunately, those good jobs never really materialized for many of us, and now millions of former college students are <a title=\"absolutely drowning in debt\" href=\"https:\/\/dollarcollapse.com\/debt\/loan-shark-nation-student-loans\/\" target=\"_blank\" rel=\"noopener\">absolutely drowning in debt<\/a>\u2026<\/p>\n<blockquote><p>A study released Friday by the Brookings Institution finds that most borrowers who left school owing at least $50,000 in student loans in 2010 had failed to pay down any of their debt four years later. Instead, their balances had on average risen by 5% as interest accrued on their debt.<\/p><\/blockquote>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Debt Cancer: More Than 80 Percent Of American Adults Owe Somebody Else Money\u00a0 How long can our debt levels keep growing much, much faster than the overall economy?\u00a0 We haven\u2019t had a year of 3 percent growth for the U.S. economy since the middle of the Bush administration, but we keep borrowing money as if [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[12623,3896,4365,11540,2517,12900,10067,195,18658,18659,3461,6069,14393,4901,549,16521,3900],"class_list":["post-31169","post","type-post","status-publish","format-standard","hentry","category-economics","tag-auto-loan","tag-auto-loan-debt","tag-borrowing","tag-borrowing-money","tag-cancer","tag-credit-card","tag-credit-card-debt","tag-debt","tag-debt-cancer","tag-debt-levels","tag-debts","tag-economic-collapse-blog","tag-in-debt","tag-michael-snyder","tag-national-debt","tag-student-loan","tag-student-loan-debt"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31169"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31169\/revisions"}],"predecessor-version":[{"id":31170,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/31169\/revisions\/31170"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}