local
Americans owe $1.40 for every dollar earned, new analysis finds
By Rachel DePompa at KOSA CBS7 / First Alert 7 (Permian Basin CBS)
· July 9, 2026
· 2 min read
(InvestigateTV) — The average American carries $63,000 in debt while earning just $45,000 a year, according to a new analysis by ConsumerAffairs — meaning for every dollar earned, roughly $1.40 is owed.The report found that gap leaves many families with little financial cushion in the event of an...
Key takeaway “Serious delinquency is when you’re 90 days or more past due on your payments,” Edens said.
Why this matters in The Midland
In Midland , where the cost of living can be high due to the thriving oil and gas industry, the average American's debt burden of $1.40 owed for every dollar earned is particularly concerning. With many residents employed in the energy sector, job security can be closely tied to the fluctuations of the global market, making the financial strain of debt even more precarious. The fact that serious delinquency rates are a problem nationwide, with neighboring states like Louisiana and Nevada struggling with mortgage and credit card debt, suggests that Midland residents may be at risk of falling behind on payments as well. As Analyst Dayna Edens suggests, understanding one's financial picture and exploring options like debt consolidation programs or refinancing loans could be crucial for Midland residents looking to get back on track and build a more stable financial future.
About this story
Original reporting by KOSA CBS7 / First Alert 7 (Permian Basin CBS) . The Midland surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KOSA CBS7 / First Alert 7 (Permian Basin CBS) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 9, 2026 ·
Source: KOSA CBS7 / First Alert 7 (Permian Basin CBS) ·
Reading time: 2 min
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Frequently asked about this story
What is this story about? (InvestigateTV) — The average American carries $63,000 in debt while earning just $45,000 a year, according to a new analysis by ConsumerAffairs — meaning for every dollar earned, roughly $1.40 is owed.The report found that gap leaves many families with little financial cushion in the event of an...
When was this published? This article was first published on July 9, 2026 by KOSA CBS7 / First Alert 7 (Permian Basin CBS) and curated for The Midland readers.
Who reported this story? This story was reported by Rachel DePompa at KOSA CBS7 / First Alert 7 (Permian Basin CBS). To learn more about how The Midland selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The Midland, or browse our daily briefing and topic hubs .
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