An Economist Talks about the Scope of America's Growing Consumer Debt

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00005915-an-economist-talks-about-the-scope-of-ame/

Newsweek takes a moment to sit back and let someone else do the talking. In a conversation with Christian E. Weller, the author of a recent Center for American Progress (CAP) report titled ‘Drowning in Debt,’ Weller shares some pretty bleak news about the length, depth, and breadth of American debt (here?s a hint: long, deep, wide), why Americans are drowning in debt (some of us, apparently, treat credit like an all-you-can-eat buffet ? and you know who you are), and what can be done to help. (Probably nothing. Barring that? Pay people more. Because that always works.)

You can read the full interview here.