Secret Shame Of The Middle Class
This is a pretty sobering piece by Neal Gabler, a well-known and respected writer of serious books, who confesses that he and his wife are pretty much broke. And they aren’t alone. Excerpts:
The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars! Who knew?
Well, I knew. I knew because I am in that 47 percent.