Going over the financial cliff - 2004-01-18
It's a lot of fun these days to chasitize our elected leaders for spending like there's no tomorrow.
Individual Americans are becoming increasingly weighed down by debt, with the average household now owing $18,700 -- not counting the biggest debt of all, the home mortgage.
Most of that rising debt is for credit card charges and car loans, according to the Federal Reserve report for 2003. The average new car loan has grown to $26,300, up from $19,880 just four years ago.
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