Debt and Wealth

In two studies, the Urban Institute analyzes debt in the United States and reports that 35 percent of U.S. adults with credit records have debt in collections.  In a possibly related story, the Russell Sage Foundation shows that while everyone lost wealth in the Great Recession, median wealth is now 20 percent lower than 30 years ago, while wealth at the 95th percentile is nearly double.

Update (August 10):  Thomas Frank refers to the Russell Sage study as additional evidence for the dismantling of the U.S. middle class over several decades, and comments that Democrats have been unable or unwilling to combat Republican "fake uprisings" to do something about it.