50% of Americans live paycheck to paycheck

In other words, too many of us are living paycheck to paycheck. The CFED calls these folks “liquid asset poor,” and its report finds that 44% of Americans are living with less than $5,887 in savings for a family of four. The plight of these folks is compounded by the fact that the recession ravaged many Americans’ credit scores to the point that now 56% percent of us have subprime credit. That means that if emergencies arise, many Americans are forced to resort to high-interest debt from credit cards or payday loans.

Read more: Nearly Half of America Lives Paycheck-to-Paycheck | TIME.com http://business.time.com/2014/01/30/nearly-half-of-america-lives-paycheck-to-paycheck/#ixzz2rvoKb1pV

 This is an unbelievable drag on U.S. economic growth. This will be the defining issue for the next decade.