Americans are facing a heavy burden in these difficult financial times. Many are struggling to pay back what they owe and finding themselves with a mountain of debt that threatens their way of life. Can you climb the mountain? Or is it really insurmountable? Find out what you are up against and see if you are up to the challenge.
Can You Climb Your Mountain of Debt?
As politicians in Washington bicker over the nation's debt, everyday Americans are facing a heavy burden of personal debt as well. For many of them, the mountain is unscalable
If you're about 35 or younger, per-person consumer debt (including credit cards, mortgages and home loans) that eclipses a thousand bucks has been the only way of life you know.
Per-person consumer debt, including every man, woman and child in the U.S., has risen from a low of about $42 in 1943 to more than $8,000 today.