Kate Dorminey US Debt Dashboard
Description
Debt oils the wheels of the economy. It allows individuals to make significant investments, such as buying a home or starting a business, by promising some of their future earnings. Rapid growth of household debt can be dangerous, and policymakers take steps to keep household debt within acceptable limits.
An increase in the ratio of household debt is likely to boost economic growth and employment. However, those effects are eventually reversed. Growth is slower and the odds of a financial crisis increase.
The National (public) debt is the total amount of money the federal government owes to its national and foreign creditors. It also influences the government’s ability to provide services and infrastructure improvements. The National Debt affects the economy, interest rates, inflation, and the value of the dollar, which in turn can contribute to changes in household debt averages.
This dashboard summarizes trends and the status of these markers.
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