Are Americans really that bad at math?

There’s an article out today in Discover magazine that blames the financial crisis on bad basic math skills.  Apparently people who don’t understand arithmetic don’t have good luck when it comes to paying off their mortgage.  Here’s the most interesting part:

Interestingly, participants with higher IQs were as likely to fall behind on payments as those with lower IQs, but were more likely to avert actual foreclosure, suggesting greater cognitive abilities may have helped some borrowers find a way out of delinquency.

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