Business Daily
The US consumer debt pile
Jul 11, 2019
Military veteran Dean shares how his debts wrecked his health and led to personal bankruptcy, while student Melissa talks about struggling with student loan interest. The podcast discusses the rising consumer debt in the US and explores solutions with experts in the field.
18:28
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Quick takeaways
- High consumer debt levels in the US are impacting households, especially those with lower incomes.
- Stories like Dean's and Melissa's highlight the emotional, physical, and financial toll of debt on individuals, emphasizing the challenges faced by many young Americans.
Deep dives
High Consumer Debt in the United States
Consumer debt in the United States has reached $4 trillion, the highest ever recorded. Although the percentage of debt has decreased compared to a decade ago, the average American adult carries over $4,000 in credit card debt. This high level of debt signifies challenges for households, especially those with lower incomes.
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