U.S. Personal Debt Shows Declines in Major Areas

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.)