Again, it was just an anecdote. If you tag on student debt, health debt, auto debt, etc. - how many people out there are living in perpetual debt - and not the

Again, it was just an anecdote. If you tag on student debt, health debt, auto debt, etc. - how many people out there are living in perpetual debt - and not the good kind of debt (mortgage)? Say you're a person that's juggling 2-3 jobs, making $30k-$40k/year in total. No job security, of course, and you lose one of those jobs. You're always living on the edge, and one month without salary would mean crisis. Luckily you have a credit card, and can use it to cover all your bills for that month. Next month work picks up again, and you're back to your normal salary. But now you have to pay back the CC debt, which you'll have to do over 6-12 months - because you don't have enough savings to pay it all off at once. Now add 2-3 other sources of debt, and it is easy to see that some people are trapped in debt. Their balance stays the same, or gets paid off very, very slow. Until the next crisis rolls around.