Articles from Steven Pressman
Median household income has remained stagnant over the past quarter century, when controlled for inflation. With rising needs like cell phones, computers and cable TV, many U.S. households have had to go into debt to maintain a middle-class standard of living.
This has provided a boost to the overall economy, because consumer spending makes up nearly 70 percent of total spending. As consumer spending goes, so goes the U.S. economy.
But there is a problem with this solution.