U.S. Household Debt Hits Record $12.8 Trillion

Americans are piling up record debt.  A new report from the Federal Reserve Bank of New York shows total household debt in the U.S. hit more than $12.8 trillion in the second quarter.  That's up more than $550 billion from a year ago.  The report cites modest increases in home and car loans, and credit card debt.  Less than 5% of that overall debt is delinquent.  

But the New York Fed also noted a significant jump in credit card delinquencies from last year.

Photo: AOL


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