If you're like me, when you read about the $2.57 trillion that American consumers are in debt, it's a staggering number. It's really hard to comprehend.
So consider it this way, which is equally staggering, according to a recently released survey by a group of consumer groups, national nonprofit organizations, leaders and scholars:
• For the first time since the Great Depression and amid historically low unemployment, Americans spent more than they earned in 2005 and 2006.
• Debt payments eat up about 15 percent of the average U.S. family's income. More than 20 percent of lower-income families spend at least 40 percent of their income on debt payments.
