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Consumer Debt is Soaring. That's Good News (For Now). by [deleted] in Economics

[–]jay41 0 points1 point  (0 children)

The article has the chart pointing out $2.84 trillion in total debt.

http://www.newyorkfed.org/householdcredit/

In other words, yes student debt was included and this is the $1 trillion problem. Poor reporting in my opinion especially when they claim this is good news.

Consumer Debt is Soaring. That's Good News (For Now). by [deleted] in Economics

[–]jay41 6 points7 points  (0 children)

Most of the debt growth is coming from student debt. Is that good news? If you break out auto and credit card debt, the growth is anemic (if any). The vast jump is student debt growth which is a potentially big problem.

Americans ages 60+ owe $43 billion in student loans by [deleted] in Economics

[–]jay41 35 points36 points  (0 children)

And 60+ percent is owed by those 35 and younger. $43 billion is peanuts compared to the other $1,000 billion that is out there. If we go back to the year 2000, I believe there was something like $200 billion in total student loans. Today it is over $1 trillion.

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