US consumer debt hits record levels - 2004-01-15
US consumer debt has hit staggering levels after more than doubling over the past 10 years. This figure, representing credit card and car loan debt, but excluding mortgages, translates into approximately $18,700 per US household.
Outstanding consumer credit, including mortgage and other debt, reached $9.3 trillion in April 2003, representing an increase from $7 trillion in January 2000.
Read the full story at World Socialist Web Site