Tag Archives: Personal debt

The coming ‘tsunami of debt’ and financial crisis in America

The coming ‘tsunami of debt’ and financial crisis in America
The US Congressional Budget Office is projecting a continued economic recovery. So why look down the road – say, to 2017 – and worry? Here's why: because the debt held by American households is rising ominously. And unless our economic policies change, that debt balloon, powered by radical income inequality, is going to become the next bust. Our macro models at the Levy Economics Institute are showing that the US economy is about to face a ... Read more

Worst. Anniversary. Ever. #TrillionDollarDebt

Worst. Anniversary. Ever. #TrillionDollarDebt
This week marks the two-year anniversary of student loan debt topping $1 trillion nationally — and another year of missed opportunities to address this growing crisis. That $1 trillion represents the second-largest personal debt in the United States. But even that jaw-dropping reality doesn’t tell the stories of millions of borrowers who are hamstrung by federal student loan policies and the lack of meaningful action to address this crisis. ... Read more