A Double Squeeze on the Middle Class
This paper examines how consumer debt impacts middle-class households. Interest payments on this debt reduce spendable income and household living standards. We argue that it is necessary to account for interest payments on consumer debt when measuring income inequality and the size of the middle cl...
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| Veröffentlicht in: | Journal of economic issues 2011-06, Vol.45 (2), p.333-341 |
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| container_end_page | 341 |
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| container_issue | 2 |
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| container_title | Journal of economic issues |
| container_volume | 45 |
| creator | Scott, Robert H Pressman, Steven |
| description | This paper examines how consumer debt impacts middle-class households. Interest payments on this debt reduce spendable income and household living standards. We argue that it is necessary to account for interest payments on consumer debt when measuring income inequality and the size of the middle class, and then estimate the impact of doing this using the Survey of Consumer Finances datasets since the 1980s. We find that both greater income inequality and rising interest payments on past debt are squeezing the middle class, with interest becoming more important in the 2000s. We conclude with some policy proposals to aid middle-class households. Adapted from the source document. |
| doi_str_mv | 10.2753/JEI0021.3624450210 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0021-3624 |
| ispartof | Journal of economic issues, 2011-06, Vol.45 (2), p.333-341 |
| issn | 0021-3624 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_908014390 |
| source | Jstor Complete Legacy; PAIS Index; EBSCOhost Business Source Complete |
| subjects | Consumers Cost and standard of living Debt Economic policy Economics Equality Households Income Income distribution Middle classes Payment Surveys |
| title | A Double Squeeze on the Middle Class |
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