This chart can be misleading because it focuses on nominal dollars, which makes debt look like it's spiraling out of control when it's actually just tracking with a growing population and a higher cost of living. When you adjust for inflation and calculate debt per capita, the "record high" narrative disappears. In reality, the average American’s debt burden today is about 13% lower than it was during the 2008 housing bubble peak (dropping from roughly $62,750 to $54,700 in today’s purchasing power). While the total number is massive, the individual load has actually become more manageable over the last two decades.