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Middle-class families are "drowning in debt" because of the increasing
costs of housing, education, and cars, according a new report by the
Center for American Progress. The progressive think tank blames stagnant
wages from 2001 to 2004 and the rising cost of big-ticket items, not
frivolous consumption, for heavy debt burdens. Mortgage debt has
increased by 29.5% for middle-class households, and education debt
jumped 37.1% during the three-year period. "Families between 35 and 44
years of ...   more »