When it is time to vote, neither Trump nor Harris will be the savior of our Country. When Biden took over from Trump in 1920—
SNAPSHOT STATISTICS FOR AVERAGE AMERICAN DEBT 2020
80% of Americans have consumer debt
Americans have $14 Trillion in debt collectively
Mortgage debt is the biggest debt in America – with $9.44 trillion owed collectively
The average American household mortgage is $189,586
The average consumer debt is $38,000 excluding mortgages
People aged 45-54 have the greatest average debt when compared to other age groups, but they also earn the most money on average.
13% of Americans expect to be in debt for the rest of their lives
Medical costs have increased 33% in the past 30 years, while income has only grown 30%
The cost of raising a child in America is around $250,000 from birth to age 18.
2 out of 10 Americans use at least 50% of their income to pay back what they owe.
Only 1 in 3 Americans have a written budget
Almost half of the families in the US live paycheck to paycheck
19% of Americans have $0 set aside for an emergency
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Household Debt Rose by $184 Billion in Q1 2024; Delinquency Transition Rates Increased Across All Debt Types —–Source: The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit ,May 14, 2024