Quote:
Originally Posted by blueash
The average American is not living on income earned from their savings as they have little savings. In fact they have more debt than savings. They have student debt, they have mortgage debt or hope to get a mortgage, they have credit card debt and maybe a car loan debt.
So for most people having a lower interest rate is good news as their mortgage goes down, student loan payment goes down, credit card payment goes down and they can buy a new car. The economy does not and should not be run to benefit wealthy retirees. They're doing fine even if they make less on their CDs and savings accounts.
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Yes, 40% of Americans DO NOT have $400.00 in their “cookie jar” when they need it. Can you imagine? That is roughly 134,000,000 Americans.