The hard-pressed American middle class with its shrinking real income has been valiantly battling to keep the economy alive, buying things it cannot afford with money it doesn’t have and won’t be able to pay back, sending its kids to college though costs have far outrun any measure of inflation, and trying to pay for healthcare whose costs have soared relentlessly for two decades. Their kids will be in student-loan servitude for decades to come. It’s tough out there for our middle class.
So here is an interactive chart that shows just where we spend all this money, by Retale.com
Some of the members of our middle class have been struggling more than others to selflessly contribute to the economy, and so they’ve borrowed the money they needed and couldn’t pay it back, and their credit scores went to heck, and now they’re considered “subprime” when they want to borrow more. But subprime giveth, and subprime taketh away. Read…. Subprime Blows up on Retailer, CEO Warns on ALL Subprime, Hits Auto Sales