U.S. Consumer Debt Surpasses a Record $4 Trillion, but Economists Don't Mind
Consumer debt in the U.S. reached a major milestone at the end of last year, surpassing $4 trillion.
The debt, which does not include home mortgages, was increased primarily by spikes in student loans, car financing, and holiday shopping.
The record figure was announced by The Federal Reserve in early February.
The growing level of debt, however, is not significantly worrisome for economists who see it as another sign of the strong economy.