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Today on Your Call: Why do Americans have so much debt?


On today’s Your Call, we’ll have a conversation with Louis Hyman, author of Borrow: The American Way of Debt, and Gary Rivlin, author of Broke, USA. Last year, Americans were $2 trillion in debt. The average American owes more than $15,000 in credit card debt alone. How did we get here? Join us at 10 or email feedback@yourcallradio.org. When did this crisis begin? And how can we get out of it? How much debt do you carry? It’s Your Call, with Rose Aguilar and you.


Louis Hyman, assistant professor of History at Cornell University's School of Industrial and Labor Relations, and author of Borrow: The American Way of Debt--How Personal Credit Created the American Middle Class and Almost Bankrupted the Nation

Gary Rivlin, special correspondent for Newsweek and The Daily Beast, and author of five books, including Broke, USA: From Pawnshops to Poverty, Inc.--How the Working Poor Became Big Business

Web Resources:

Louis Hyman's Website

Louis Hyman, Huffington Post: A Brief History Of Debt

Gary Rivlin, The Daily Beast: America's Abusive Debt Collectors

Reuters: Consumer debt falls in Q4 on mortgage balances

Bloomberg: Visa profit up 16% as use of cards increases

The Street: Banks Earn $100B Post-Crisis Profit

OpenSecrets: Credit Card Company Contributions