Overworked, underpaid, overburdened…
After yesterday’s reference to the “overworked” situation, found two other interesting pieces of news.
Flexo’s post on “Your real raise” - or rather, the lack of it.
And this Newsweek commentary on being a nation of credit junkies.
The trouble is that no society can forever raise its borrowing faster than its income—which is what we’ve been doing. Sooner or later debt burdens become oppressive. …..
….. It is not just that debt service—interest and principal—is at a historic high, almost 19 percent of disposable income. Credit standards may have been stretched too far. Since 1989 the share of households with debt has risen from two thirds to three quarters.
Overworked. Underpaid. And overburdened.
And to think, we did it to ourselves.
Written by 2cworth on September 12th, 2006 with
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