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Consumers Pay Off Debt Faster Than Capitol Hill

Poll finds that 83% of Americans believe they are more capable of paying off debt than the government

Raleigh, NC -- October 13, 2011 – Turns out Americans are pretty optimistic about their ability to recover from personal debt issues, but they aren’t convinced the nation can muster the same kind of fiscal discipline.

A new national poll shows 83% of Americans age 35+ believe they are more capable of eventually paying off their debts than the federal government. In addition, despite all the talk in Washington about reducing the federal budget deficit and paying off the national debt, 93% are convinced that they will pay off their own debt before the US government ever pays off the national debt.

The poll of 355 US adults with at least $1,000 in credit card debt was conducted online in September 2011 by a third-party and commissioned by the national nonprofit credit counseling firm Consumer Education Services, Inc. Respondents had no affiliation with CESI.

The survey also found Americans are practicing what they believe the federal government should do. Of those polled, 76% still balance their checkbooks.

“Creating a manageable monthly budget is one of the fundamental lessons in money management, and one of the first lessons we teach people struggling with debt,” says Neil Ellington, Executive Vice President of CESI. “Until you can keep track of what money is coming in and where it is going, it’s impossible to manage your expenses, whether it’s federal government or a family of four.”

CESI is a proud member of Association of Independent Credit Counseling Agencies and has helped hundreds of thousands of consumers nationwide become debt-free. For more information about CESI, please visit: www.cesisolutions.org.

Filed Under: News and Press

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Consumer Education Services, Inc. (CESI) is a non-profit service provider of comprehensive personal financial education and solutions for all life stages and for all of life’s milestones. Our goal is enhanced economic security for everyone we serve.


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