american

The Average American's Credit Card Debt: How Much Do They Owe?


The Average American's Credit Card Debt: How Much Do They Owe?

Average American credit card debt refers to the typical amount of debt carried by individuals in the United States. It is calculated by dividing the total credit card debt outstanding by the number of people with credit cards.

Tracking average American credit card debt is important for several reasons. First, it provides insights into the financial well-being of consumers. High levels of credit card debt can indicate financial stress and difficulty managing expenses. Second, it helps policymakers understand the overall health of the economy. High consumer debt levels can contribute to economic downturns if consumers are unable to repay their debts.

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The Unraveling of the National American Debt: A Crisis in Numbers


The Unraveling of the National American Debt: A Crisis in Numbers

The national American debt refers to the total amount of money that the U.S. government owes to individuals, businesses, and other countries. It is the accumulation of all the budget deficits that the government has incurred since its founding in 1776. As of August 2023, the national debt is over $31 trillion.

The national debt is often a subject of debate, with some arguing that it is too high and poses a risk to the economy, while others argue that it is necessary to finance important government programs. It is important to note that the national debt is not the same as the federal budget deficit. The budget deficit is the amount of money that the government spends in a given year more than it takes in. The national debt is the total accumulation of all the budget deficits over time.

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