US consumer debt is high and rising but 16 cents on every dollar spent by the government is now going to interest<\/p>\n
A recent report from the Federal Reserve<\/a> warned that consumer debt is now more than $18tn and the people are worried. Americans\u2019 \u201ccredit card and household debt reach all-time high\u201d, reports Fox News<\/a>. Consumers are \u201cfinding it harder and harder to pay off their debt\u201d, claims CNN<\/a>. A \u201cthird of Americans have more credit card debt than emergency savings\u201d, says Marketplace<\/a>.<\/p>\n Yes, consumer debt has ticked up this year. It\u2019s true that some consumer debt \u2013 particularly student loans \u2013 has <\/a>soared in the past few years. But \u2013 although worrisome \u2013 this debt is still being used to fund education and skills. Other consumer debts are being used to buy homes and cars and fund the purchases that make life livable, not to mention the many industries that rely on this spending.<\/p>\n Continue reading…<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" US consumer debt is high and rising but 16 cents on every dollar spent by the government is now going to interest A recent report from the Federal Reserve warned that consumer debt is now more than $18tn and the people are worried. Americans\u2019 \u201ccredit card and household debt reach all-time high\u201d, reports Fox News. … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-34141","post","type-post","status-publish","format-standard","hentry","category-blog"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/34141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/comments?post=34141"}],"version-history":[{"count":0,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/34141\/revisions"}],"wp:attachment":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/media?parent=34141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/categories?post=34141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/tags?post=34141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}