Lost in Debt Percentages

By Patricia L Johnson

 

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Data Source:  Federal Reserve Board

The percentage of household debt dropped from 10.2% in 2006 to 6.8% in 2007.  The decrease in household debt was due to slow growth of home mortgage debt.  Even though household credit card debt increased an an annual rate of 4.0%, slow growth in home mortgage debt resulted in a percentage decrease.

Non-Financial Debt outstanding, end of 4th quarter 2007:  $31.2 trillion broken down as follows: 

 

  • $13.8 trillion – Household debt
  • $10.1 trillion – Non-financial business debt
  • $ 7.3 trillion – Total government debt (State and Federal)

 

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