U.S. Personal Debt Shows Declines in Major Areas

by Arkansas Business Staff  on Monday, Feb. 25, 2013 12:00 am  

NOTE: The total level of household debt has decreased since 2008. While mortgages still represent the largest portion of household debt at $8.03 trillion, the level has been falling. Outstanding student loan balances have been growing and currently stand at $956 billion. HE, home equity. (Photo by Federal Reserve Bank of New York Credit Panel/Equifax)

The Federal Reserve Bank of St. Louis, in its January 2013 “Page One Economics Newsletter,” addresses government debt in the context of personal and household spending.

This graph above shows that the “total level of household debt has decreased since 2008. While mortgages still represent the largest portion of household debt at $8.03 trillion, the level has been falling. Outstanding student loan balances have been growing and currently stand at $956 billion.” (HE stands for home equity.)

 

 

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