TOTAL CONSUMER DEBT STANDS AT $2.39 TRILLION
January 9, 2007
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Say what you want, but Americans aren’t afraid of anything. That includes a mountain of debt. And I mean a mountain of debt!
The Federal Reserve reports that consumer debt increased by a seasonally adjusted $12.3 billion, or a 6.2 percent annual rate, during November 2006, after falling by $1.3 billion, or 0.6 percent annualized, in October. Total outstanding debt stood at $2.39 trillion at the end of the month. These figures do not include mortgages or any debts backed by real estate. Most of the increase in November came in credit card debt, which surged by 11.9 percent annualized, or $8.6 billion.
Total Consumer Debt Stands At $2.39 Trillion
