US citizens’ finances are "being squeezed from all sides", according to a professor of economics at Southern State Community College.

Bill Horne, writing in his column for the People's Defender, has claimed various factors are causing Americans financial difficulties and leading some of them into debt.

Examples given for how consumers are being "squeezed" include the changing interest rates of credit cards and the "weight of higher gas prices".

Professor Horne also listed healthcare costs, rising food prices and energy bills as just some of the issues people in the US have to deal with.

One other matter he raised was that large corporations are apparently outsourcing jobs overseas, as well as importing cheap labor from abroad – which, he said, are reducing the employment opportunities for Americans.

In his concluding paragraphs, the professor called on Americans to pay down their debt and get their "houses in order". He also hinted that he and his wife will be using 2008 to pay down their own debt.

On his personal website, which is accessed via his college's portal, Professor Horne reveals that most of his time is spent helping students solve personal and job-related matters.

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