Debt, Debt, Debt: 90% of Americans Experience Income Decline As Wealth Gets Sucked Back Into Top .1% -- Debt Explodes As We Try to Make Ends Meet

Americans have made up for the decline in income by taking on large amounts of debt.
August 14, 2011

The cuts in taxes for the mega-wealthy have led to record wealth inequality and resulted in a huge national deficit. Meanwhile, to make up for the deficit created in part by tax giveaways to one-tenth of one percent of the population, Democrats and Republicans are committed to making draconian budget cuts to vital social services, which target the poor, middle class, elderly and sick, while handing out billions more in corporate welfare annually. (Inequality = Debt = Austerity)

Just as the government has done, to make up for tax revenue lost to the mega-wealthy, Americans have made up for the decline in income by taking on large amounts of debt as well. (Inequality = Debt)

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