Do you believe that most consumers are over extended?

Or, are most consumers on solid footing?

Answers:
I would say most are over-extended. The average family credit card debt is $18,000 and they don't have nearly enough savings for retirement. The debt will keep them from saving for retirement so we are facing a huge crisis caring for these poor folks as they retire because Social Security won't do it.
I think that it's about 50/50 - half are on solid footing - the anti-debt, live under your means, drive a 6 year old car half.

The other half - the I want a 5000 square foot house and a new car every year, fancy vacations, eating out all the time - they're mostly overextended.
Seeing as how the US has a negative savings rate for the first time since the Great Depression, I would say most people are living in some sort of debt. And even fewer are those who are actually saving enough to retire.

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