Infographic: Our debt goes down while Uncle Sam's rises

09/19/2012 | Face the Facts USA

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% lower than when the market crash occurred in 2008. From 2007 to 2010, the percentage of U.S. households owing some kind of debt fell from 77 to 75%. 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 -- click on today's infographic. In an economy driven by consumer spending, is this trend good or bad?

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