Americans' Borrowing Hits Another Record. Time To Worry?
Americans owe more than ever before, with household debt hitting nearly $13 trillion. Some economists say the lessons of the credit bubble that led to the financial crisis are being forgotten.
Americans owe more than ever before, with household debt hitting a record of nearly $13 trillion. And auto loans, home loans, and credit card debt are all still on the rise, according to the Federal Reserve Bank of New York.
That has some economists saying the lessons of the bubble of borrowing in the run-up to the Great Recession have already been forgotten.
The last time borrowing hit a record,
