Some Simple Math
I ran across this article this morning about credit card debt, and started trying to figure out what it meant in terms of numbers. Nearly 80 percent of American families have at least one credit card, 44 percent of families carry a balance on their credit cards, and Americans pay about $15 billion a year in penalty fees, according to Treasury Secretary Tim Geithner's office. The current population in the US is around 305 million (2008 census). I don't know how many families are in the US, but let's take a rough stab and there are about three people per family, ...
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