[perl4ever]

>I'll just address the underlying sentiment that credit card debt is just fine and totally normal.

I think your point that a credit card can't save someone that consistently spends more than they earn is correct.

Neither will a few thousand dollars in cash.

I don't believe 60% of Americans are in this category anyway. I don't think anyone seriously does believe it. Do you?

What we are talking about, in my view, is whether having substantial cash reserves has any relationship to risk of imminent financial disaster. Or if it's a weird anachronism.

[codefreakxff]

Not sure where you got 60% from. I said 65% of people had the money, and 35% of people did not. Is that accurate? The number comes from my interpretation of this one study. I would put some confidence in the number being between 25-35%. Again, 60% is a made up number - so no, I don't agree with that number.