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Maxed Out

Maxed Out

One of the near-universal experiences of American life today is personal debt. At a time when personal savings are actually negative, personal debt has risen by 262% since 1980—since 2000 alone, from 96 percent of disposable income to 126 percent, a record high. Credit cards are one of the leading causes for this rise in personal debt, with Americans owing some $813 billion in credit card debt.

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