Having maxed out many of their 1.4 billion credit cards, between 2001 and 2006 Americans tapped $1.2 trillion of their housing equity. Business Week reports that the middle-class debt-to-income ratio is now 141 percent, double that of 1983.
~ George Will, "The Fed Muddles Through a Bailout," Townhall.com, April 20, 2008
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