U.S. households are in deeper debt than ever before
February 12, 2020
Americans have increased their borrowing for 22 consecutive quarters, with total debt surpassing $14 trillion for the first time in history, according to a report released by the Federal Reserve Bank of New York. Total debt for individuals between the ages of 18 and 29 grew to a record $1.04 trillion. All forms of debt, including car loans, credit cards, mortgages and student loans, increased.
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