While our $18 trillion gross federal debt is now larger than America's entire economy, at least as troubling is the nearly $12 trillion in debt that individuals and households have. The statistics are grim. While median assets have declined by a third since 2003 and are below those of 15 other countries, median household debt has nearly tripled during the past 20 years, and the typical American household's debt has exceeded its income since 2000.
By By Andrew L. Yarrow
Dec 31, 2014