Americans In Greater Debt Than Before Pandemic

(KFOR NEWS  February 9, 2022)  Americans are emerging from the pandemic in even greater debt, according to a new report from the Federal Reserve.

U.S. consumer debt topped $15.6 trillion in 2021, after a one-year spike of $1 trillion – the largest single-year gain on record since 2003.

Most of that debt goes to mortgages, with credit card debt spiking sharply in the final quarter of 2021.  Student loans also account for a large chunk of U.S. debt.

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