Huffpost Politics

Fact Of The Day #50: Household Debt Shrinks While Uncle Sam's Grows (INFOGRAPHIC)

Posted: Updated:

One reason for our sluggish recovery from the recession is what Americans are doing with their money: paying off old debt. Total American household debt is 17.5 percent lower than when the market crash occurred in 2008. From 2007 to 2010, the percentage of US households owing some kind of debt fell from 77 to 75 percent. Total households debt in this country now stands at $11.38 trillion. At its peak in 2008, it totaled $13.8 trillion.

To see what that means to the average household – and what types of debt we’re running – check out today’s infographic, then comment below. In an economy driven by consumer spending, is this trend good or bad?

ftfinhouseholddebt

Face the Facts USA is a project of The George Washington University's School of Media and Public Affairs. Would you like the "Fact of the Day" beamed straight to your email inbox? Sign up here. For more fun stuff, follow them on Twitter @FaceFactsUSA, or like them on Facebook.

Also on HuffPost:

Suggest a correction

Around the Web

Household Debt Service and Financial Obligations Ratios

Shrinking household debt is good sign for 2013 economy

Romney ad says he'll stop 'passing on debts to our kids'

Face the Facts USA: Our debt goes down while Uncle Sam's rises

Household debt: economic threat or 'godsend'?

Register To Vote