Household debt is on the rise again. Economists at the Federal Reserve Bank of New York have released a new report showing our debts – including mortgages, credit cards, car loans and student loans – have been shooting up, even though the economy has been improving.
Household debt rose by $117 billion in just the last three months of 2014. With a total debt load of $11.8 trillion now, more people are falling behind on their bills. NPR’s Marilyn Geewax joins Here & Now’s Robin Young with details.