US mortgage debt has hit a record in the second quarter of 2019, exceeding the peak it reached during the 2008 financial crisis. However, delinquencies are lower and debt defaults have become less frequent than in 2008.
Millions of Americans are struggling under the weight of student loans, but the government would rather bomb Iran than fix it, the graduate who packed his bags for China to escape his own crippling college debt tells RT.
The spiraling US government debt is apparently much higher than the official figure of $22 trillion. The indebtedness of the American financial system has now reached $72 trillion, according to the numbers compiled by the US Fed.
The US national debt has climbed above $22 trillion. It is projected to continue rising by a trillion each year over the next decade, due to the cost of pensions and medical care for the retiring Baby Boomers.