> Just 18% of U.S. households had enough liquid assets to cover the cost of a new car, according to a Wall Street Journal analysis of 2016 data from the Fed’s t

> Just 18% of U.S. households had enough liquid assets to cover the cost of a new car, according to a Wall Street Journal analysis of 2016 data from the Fed’s triennial Survey of Consumer Finances, a proportion that hasn’t changed much in recent years. The surprising thing about being poor is how expensive it is! Those taking out the car loans are paying more than the people who pay cash. It's a kind of quicksand that lulls its victim into a false sense of financial security. All the while, debt begets higher expenses, which begets more debt. Suddenly, out of nowhere it seems - comes calamity. This describes both the American consumer, and the US government.