Greece vs. America – The Average American Could Be Worse Off

Greece is in serious trouble – but what about the average American? The average US household carries approximately $16,000 of credit card debt; average mortgage debt $157,000; average student loan $33,000 (source http://tiny.cc/ee3q0x) … that is approximately $10,000 of interest per year :/

However, unlike Greece, if an American claims bankruptcy there is no reprieve from certain types of debt i.e. student loans or taxes which essentially creates a “debt prison”.

http://tiny.cc/u32q0x