According to a new report by CNBC, consumer debt in the United States is currently at an all-time high.
“The Federal Reserve says consumer credit climbed to a record high in February with a more than $15 billion gain that month, pushing the nation’s overall borrowing to a fresh overall high of $3.3 trillion,” Morgan Brennan reported on Wednesday.
Although credit card debt was on decline for February – for the second straight month – it was a big jump in auto and student loans that contributed to the higher numbers.
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