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Also, the middle value of total outstanding debt owed by households rose 9.6% between 1998 and 2001. Credit card lending quadrupled between 1990 and 2003. Both the poverty rate and number in poverty increased for people 18 to 64 years old (11.3 percent and 20.5 million in 2004, up from 10.8 percent and 19.4 million in 2003). There are 23.8% of American households that have no credit cards, no bank cards, no retail cards, nothing.
Since one out of every 73 households filed for bankruptcy in the year 2003 and more Americans filed for bankruptcy last year in the United States than in the entire decade of the 1960s, President George Bush signed into law a new bankruptcy law on April 20, 2005...
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