One of the defining features of this economic crisis is massive debt: student debt, medical debt, credit cards and underwater mortgages. The last thirty years have seen a stagnation of actual wages, which, combined with government cuts, outsourcing and off shoring, has meant a stagnation of the real purchasing power of the American people (alongside many more destructive results). To offset this lag, America has turned to debt, which can only paper over the lack of real capital for so long. The current crisis has seen millions devastated by the bursting of these credit bubbles. What solutions can help get people out of these debt traps?
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