Total US household debt increased by $190 billion in Q1 2024, to a new record of $17.7 trillion, according to the NY Fed.
Here are the large categories:
| Mortgage Debt | $12.4 trillion |
| Auto Loans | $1.6 trillion |
| Student Loans | $1.6 trillion |
| Credit Card Debt | $1.1 trillion |
On top of that the USA national debt is now 34.5 trillion — an increase of 55% from 22 trillion just 3 years ago.
That is an increase of 15.6% per year.
Basis: In 2024, the USA population is ~342 million people; the number of taxpayers is ~136 million.
| Mortgage Debt | $36,400 |
| Auto Loans | $4,730 |
| Student Loans | $4,660 |
| Credit Card Debt | $3,260 |
The USA national debt is now $100,900 per every man, woman, and child.
The USA national debt is now $254,000 per taxpayer
The total debt is now $152,600 per every man, woman, and child.
If you have a family of four — that’s about $610,000 !!
You may have additional debt, thanks to your state. Here in Texas the state debt is another $399 billion — or $13,300 per citizen.
In Texas there are 4 million food stamp recipients versus a population of 30.4 million — therefore, 13% of Texans are food stamp recipients.
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