United States

Why rising US household debt is a sign of things to come

Piggy Banks with Westpac logos on the side are seen at a Westpac Banking Corp branch in Sydney November 4, 2009. Westpac Banking Corp, Australia's third-biggest lender, forecast a fall in bad debts next year, marking the local banking industry's most confident outlook to date, even as it reported a fall in profits.    REUTERS/Tim Wimborne     (AUSTRALIA BUSINESS)

Household debt in the U.S is increasing at an alarming rate as consumers are unable to pay anything back. Image: REUTERS/Tim Wimborne

Pedro Nicolaci da Costa
Editorial Fellow, Peterson Institute for International Economics
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United StatesFinancial and Monetary SystemsEconomic Progress
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