Stafford, Schoeni, and Chen find many Americans making little headway against debt
a PSC In The News reference, 2012
"U-M study says 20% of U.S. households underwater" - Detroit Free Press. 5/8/2012.
Analyzing PSID data on the financial resources and debt of more than 8,000 families before and after the recession, Frank Stafford, Bing Chen, and Robert Schoeni find that many families are still struggling with debt. Their data indicate that about 1 in 5 households have more in unsecured debt than they do in savings and assets. See MSNBC coverage of the study.
Additional Media Coverage:
"U-M report: 1 in 5 U.S. households underwater with debt" - Ann Arbor.com. 5/8/2012.
"Many U.S. families are underwater with debts" - ISR Sampler. 5/8/2012.
"More Families Report Having No Savings at All" - New York Times . 5/10/2012.