March 14, 2005

A Hill of credit-card debt

Yipes, no wonder we're in deep fiscal doo-doo at the federal level as well as at the personal level. We're a nation of debtors. The annual interest payments at 14% APR are about $1,700. Add to that home mortgage and a car loan...

"About 51 million households carry credit-card debt at an average balance of nearly $12,000, according to cardweb.com."

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