A new poll shows that two-thirds of all Americans would struggle to cover $1,000 crisis.
According to this poll by the NORC Center for Public Affairs Research, this type of crisis spans all incomes.
Three-quarters of people in households making less than $50,000 a year and two-thirds of those making between $50,000 and $100,000 would have trouble coming up with $1,000 to cover an unexpected bill.
Even for the country's wealthiest 20 percent — households making more than $100,000 a year — 38 percent say they would have at least some difficulty coming up with $1,000.
William R. Emmons, a senior economic adviser at the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis said, "Many families are still struggling with debt from the housing bubble and borrowing boom.
And the recent economic stresses make it much more likely families are going to be fighting basic financial issues.”
Two Thirds of all Americans would struggle to cover a $1,000 crisis
By Thom Hartmann A...