WKOW 27: Madison, WI Breaking News, Weather and SportsDebt-related stress dampens holiday cheer
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WASHINGTON (WKOW) -- Debt-related stress and recession worries are weighing heavily on many Americans this holiday season.
An Associated Press-GfK poll finds 93 percent of those surveyed will spend less or about the same as last year.
Half say they're suffering from at least some debt-related stress and another 22 percent say they are feeling it greatly or quite a bit -- up 17 percent from last spring.
Most people - 80 percent - say they'll use mostly cash to pay for their holiday shopping, which generally means buying less overall.
And with unemployment past 10 percent, many people are struggling just to pay their bills, along with rising home foreclosures and credit card defaults.
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