More American Senior Citizens Stuggle with Mounting Debts

Ideally, when you reach the twilight of your life or the so called senior citizen years, the normal routine is rest and recreation for your weary body. But sadly, such an ideal scenario among senior citizens is hardly felt in the United States. According to reports, many senior citizens in America have mounting debts and most of them have a hard time paying it.

The mounting debts of people in the age of 65 and above are primarily due to  mortgages and credit cards. Based on the latest study, the average debt held by senior citizens has ballooned to $50,000 in 2010, up 83% since 2001. Well, this is definitely a sad news. Let us hope that the senior citizens in America can eventually get out from their debt problems. Hopefully, under the new leadership of US president Barack Obama, such debt problems of the senior citizens can be given solutions.

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