$19,100,000,000,000: Americans Are Drowning In The Largest Ocean Of Consumer Debt In The History Of The World

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$19,100,000,000,000: Americans Are Drowning In The Largest Ocean Of Consumer Debt In The History Of The World Authored by Michael Snyder via The Economic Collapse Blog,Total…

Total household debt in the United States just hit a brand new all-time record high. For a large portion of the U.S. population, debt is a suffocating financial reality that never goes away. Millions upon millions of Americans found themselves drowning in debt the instant that they left college, and a very large percentage of them will still be deep in debt when they die. The entire system is designed to get us into debt and keep us there.

Because a college education has become so expensive, most Americans have to go into debt to get one. Once you get out of school, you rapidly discover that you are going to have to go into more debt to get a vehicle or buy a home. And don't even get me started on medical debt. Most Americans, and this is especially true for those under the age of 40, are carrying mountains of soul-crushing debt. This is one of the primary reasons why young adults seem to be so angry all the time.

Many Americans that purposely tried to stay out of debt by living a frugal lifestyle have now been forced to take on debt by the rising cost of living.

At this stage, approximately 63 percent of all U.S. adults are living paycheck to paycheck, and 44 percent of Americans struggle to pay for even the most basic necessities.

When you are living right on the edge, it is so easy to go into debt when an unexpected expense suddenly arises.

You tell yourself that you are going to pay it off right away, but then something else comes up next month.

Of course if you end up getting sick and have to go to the hospital, that can set you back financially for years.

I can understand why millions of young people say that they are sick and tired of playing the game.

This week, we learned that total household debt in the United States has reached an all-time record high of 19.1 trillion dollars...

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