Debt

It’s useful to track how education and financial policy changes influence customers over time by charting student loan debt by age group. Postgraduate and professional degrees may account for some of the differences in average student loan debt amounts among age groups. A logical factor is the rise and fall of interest rates. The average […]

The federal government’s debt was $28.43 trillion by the end of 2021. . How did we end up with a government debt of $28.43 trillion? When the government of the United States runs a deficit, the majority of the deficit expenditure is paid by the government taking on new debt. Who does the US owe

From school and vehicle loans to credit card debt, the average American owes money in one way or another. According to data from an Experian consumer debt research, which assessed credit report information for a statistically meaningful sampling from its database, outstanding consumer debt in the United States reached $14.88 trillion in 2020. How much

According to the latest figures from credit agency Experian, Americans have an average credit card debt of $5,315 each. Although this may appear to be a large amount, consumers are becoming more conscious of their spending habits and improving their ability to pay off their debts. Most individuals believe it will take them roughly two

Thriller (which was released 34 years and two days ago!) is the best-selling album of all time, with over 65 million copies sold. Despite the large sums of money he proceeded to make from such records, Michael Jackson died penniless. How is it possible? The answer to this question reveals some key insights for anyone

At the end of President Bush’s last budget in 2009, President Obama added $8.6 trillion to the national debt, a 74 percent increase. FY 2009: $253 billion (the Economic Stimulus Act, which spent $253 billion, was passed by Congress). What was the national debt in 2016? GDP is a measure of the economy’s entire size

Highlights from the report In the United States, student loan debt totals $1.75 trillion and is growing at a rate six times faster than the economy. Approximately 42.9 million Americans have federal student loan debt, with each owing an average of $37,105. The CARES Act of 2020 qualifies more than 35 million of these borrowers

At the start of President Clinton’s first term, public debt reached a peak of 49.5 percent of GDP. However, by the conclusion of Clinton’s administration, it had dropped to 34.5 percent of GDP, thanks to lower military spending, higher taxes (in 1990, 1993, and 1997), and more tax revenue from the 1990s boom. Budget constraints

Is the national debt important? Is this a sign of financial security? Not all of the time. According to the IMF database, there is only one “debt-free” country. The relatively low national debt of many countries could be owing to a failure to present true data to the IMF. Another situation in which a low

Knowing how much you owe is the first step toward creating a debt repayment strategy. Unfortunately, when you have a variety of debts, it can be difficult to keep track of them all. The good news is that calculating your total debt balance is fairly simple. All you have to do is follow these five