Trump gives them the confidence to max their credit cards out.
Well there's only one thing to say about that...
by Anonymous | reply 1 | December 4, 2019 7:11 PM |
During Trump’s administration, personal income in the South has grown by 1.7% a year, trailing Clinton-voting Northeastern states, where income grew by 2% over the same period. And in 2018, personal income in Southern states was lower than the rest of the country. The average income in Texas was $49,161; $45,834 in North Carolina; and $37,994 in Mississippi, according to the Bureau of Economic Analysis.
The unemployment rates of southern states with the highest credit card debt are also higher than the national 3.6% rate – except for Arkansas which has a 3.5% unemployment rate. The rate for Louisiana was 4.5% in October; West Virginia 4.8%; and Mississippi 5.5%.
New Mexico has the highest debt burden, according to Creditcards.com. Total credit card balances for a typical resident and median annual household income were factored in to determine how many months it would take someone in that state to pay off the debt with an average APR of 21.10%.
by Anonymous | reply 2 | December 4, 2019 7:15 PM |