Keeping Track: Who's in debt in the US
Consumers carry the most IOUs
April 24, 2000
Despite the roaring US economy, American households and corporations have been borrowing at an unprecedented rate.
Over the past two years, household debt and corporate debt have both shot up almost 10 percent, according to figures issued by the Federal Reserve.
During the same period, the US government has decreased its debt by about 1 percent.
The reason for rising private-sector debt? Some analysts say that by supporting consumer spending and enabling corporate growth, borrowed money is one of the main fuels behind the economic boom.
(c) Copyright 2000. The Christian Science Publishing Society