Household Debt Has Not Set a New Record

Household Debt Has Not Set a New Record
By Kevin Drum

May 18, 2017 at 09:20AM
via Kevin Drum Feed | Mother Jones http://ift.tt/2ruzkK6

«It’s misleading clickbait reporting to write about a dumb, nominal, aggregate number like total debt just because you can get a good news hook out of the fact that it’s surpassed its previous peak. In fact, the Federal Reserve explicitly warned against this when it released these figures yesterday. Instead, you should take a look at how much households are actually spending to pay off their debt. Here it is:»

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