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Patrick Leahy

Cal Thomas: Deeper and deeper in debt

Cal Thomas: Deeper and deeper in debt

There are many addictions besides drugs, sex and power. There is also our increasing addiction to debt. According to Money Magazine, reporting on figures from the New York Fed, "Americans' debt hit a new high of $13 trillion last year, surpassing the previous record set in 2008 by $280 billion."

On a personal level, individual American debt averages $7,800, according to the U.S. Census. Credit card debt and student loans account for a good portion of it, depending on one's age, with people 75 and older having the least debt and...

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