“As Washington is struggling with debt and all its political ramifications, American companies and consumers are embracing it, running up record amounts in 2013. Consumer credit, for instance, surged past the $3 trillion mark in the second quarter of 2013 and continues on an upward trajectory, according to the most recent numbers from the Federal Reserve. At $3.04 trillion, the total is up 22 percent over the past three years. Student loans are up a whopping 61 percent. Total household debt, according to the Fed’s flow of funds report, is at $13 trillion, nearly back to its pre-crisis level in 2007 and a shade below government debt of $15 trillion.”
http://www.cnbc.com/id/101103819
Related posts:
Putin says Snowden should stop harming 'our American partners'
Secret NSA cybersecurity program to protect power grid confirmed
German police detect neo-Nazi music with new app
Woman released after protesting sentences for kidnappers that forced her daughter into prostitution
Postal Service bans images of marijuana on stamps
Greece to sack 15,000 state workers in next two years to unlock bail-out cash
Pentagon requests more funding for Israel’s ‘Iron Dome’
Fast food CEO: How govt regulation is driving us abroad
Texas votes to abolish taxation of gold
After QE failure, BOJ's Kuroda says no plan to ease policy now
Pizza delivery man facing deportation after delivering to military base
Money and People Leave Spain as Economic Gloom Deepens
Roadside manicure services boom in Nigeria
Bitcoin ultimately can replace Wall Street, investor says
These Guys Want to Lend You Money Against Your Bitcoin