The New York Times writes about the difficulties some people face in paying down their credit card debt in the face of increasing lay-offs. They use an umemployed warehouse worker from Arkansas to help illustrate the point.
Mr. Ward, of Arkansas, lost his job at a retail warehouse in April and so far has managed to make minimum payments on his credit card debt, which he estimates at $15,000 to $20,000. Asked whether he thinks he will be able to pay off his balance, he said, “Not unless I win the lottery.”
In the meantime, he said, “I’m just doing what I can.”
Which reminds me, the state's lottery commission will have their second meeting tomorrow in the board room of the UA Systems administration building at 1:00. Commissioners will develop an agenda for future meetings and set plans for an intensive workshop to get the lottery underway.