Plastic Puts The Poor At Risk
With consumer debt service payments claiming a lower share of disposable income than they did during most of the 1980s, household debt loads still seem quite manageable. If the economy were to slip into recession, however, the outlook would change significantly. And according to a recent study by Edward J. Bird of the University of Rochester and Paul A. Hagstrom and Robert Wild of Hamilton College, poor households would be especially vulnerable.
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