01/24/2017
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Americans have been on a borrowing binge. To buy their favorite cars and trucks, they've loaded up on $1.14 trillion in auto loans. Young and not so young Americans are mortgaging their future with student loans that now amount to $1.28 trillion. Credit card and other debts are at $1.12 trillion. And mortgage debt stands at $8.82 trillion.
So, total household debt was $12.35 trillion, according to the New York Fed's Household Debt and Credit Report for the third quarter 2016.
So who the heck are the Really Great Ones?