Have you looked at household debt vs wage since WWII? http://en.wikipedia.org/wiki/Debt-to-income_ratio http://en.wikipedia.org/wiki/Debt-to-income_ratio What

Have you looked at household debt vs wage since WWII? http://en.wikipedia.org/wiki/Debt-to-income_ratio http://en.wikipedia.org/wiki/Debt-to-income_ratio What we are seeing is the unraveling of that process -- since the 30 year fixed mortgage was widely available from the FHA and the VA, the amount of debt we've been willing to shoulder has increased over time. With increased living expenses (college costs, et cetera) and flat wages, how have americans maintained their standard of living?? Home Equity lines of credit... MORE DEBT! Living on less isn't just for "handwringing worriers who have plenty but feel guilty about it", it is the prudent thing to do. Then again, prudence isn't hot or hip.