Monday, May 20, 2013

Borrowing To Buy: How Much Do Americans Owe?

Ever since total outstanding national household debt peaked at $12.68 trillion in the third quarter of 2008, Americans have continued to slowly but steadily chip away at what they owe. In the first quarter of 2013, total household debt in the U.S. declined by $110 billion, or about 1 percent of all the debt that Americans hold, according to the Federal Reserve of New York. With total debt currently at $11.23 trillion, this means that Americans repaid more money than they borrowed in the first three months of this year.

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