U.S. Consumer Debt Hits $17.1 Trillion Consumer debt in the United States has continued to rise, reaching $17.1 trillion in 2023, up from $16.38 trillion in 2022, according to an Experian study. This trend persists across all regions and generations, despite a brief decrease during the COVID-19 pandemic. However, experts like Joseph Mayans from Experian suggest that when adjusted for recent rapid income growth, overall debt loads remain below pre-pandemic levels and are historically low. While the growth rate of consumer debt slowed in 2023, it still indicates an ongoing pattern of increased borrowing among Americans, with credit card debt being a particular area of concern for some analysts. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts BRICS: Scotiabank Says US Dollar To Fall in 2024 READ MORE What is a Troy Ounce? READ MORE De-Dollarization: A Gradual Shift from US Currency Control READ MORE Global Concerns Rise Over U.S. Economy's Impact on World Currencies READ MORE Currency Watch: Dollar Rises, Eyes Set on Upcoming U.S. Inflation Insights READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment