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So Who Are the Debt Slaves in this Rich Nation?
Half of Americans do not have enough savings to pay for a minor emergency expense. t 46% of adults could not cover an emergency expense of $400, such as a broken windshield. 15% of American households have either zero or negative net wealth, according to the New York Fed. Negative net worth means they have more debt than assets. 47 million Americans, or nearly 15% of the population, live below the poverty line, according to the Census Bureau.
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