Americans Are In More Debt Than Ever Before

Americans Are In More Debt Than Ever Before
Photo by Sharon McCutcheon / Unsplash

Here's why.


With inflation skyrocketing in the U.S many American families are left in debt. Americans are in more debt than ever before.

The Federal Reserve Bank stated that the US household debt climbed to a new record of $15.24 trillion. This is bad news to many Americans as prices continue to inflate with no end in sight. Spending is also falling due to the inflation rate rising with no intention to fall.

Many experts are recommending that Americans return to the work force to counter the debt and the rising inflation.