The US is top of the heap in 3 different types of debt
Lets look at credit card debt. According to figures from the Federal Reserve, households that have debt average about $15,607 each. That totals to $880.5 billion in debt nationwide. And that’s just with credit cards.
Now lets compare those credit cards with the rest of the worlds. American citizens average $4,236 in credit card transactions made per year. China averages $297, with France right behind them at $267, and Germany comes in at just $158. Despite 73% of American households having credit cards, credit card debt ranks 3rd in sources of America’s debt!
Can we really dig ourselves out at this point? Or are we too deep in the hole?
Find out what else factors into America’s crushing debt in this episode of #Off The Grid:
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