Business Insider published an article entitled “Americans have $12.29 trillion of debt”. That article reported:
“Americans are still adding debt.
“Household debt—which includes things as varied as mortgages and credit cards—increased to $12.29 trillion in the second quarter of 2016, an increase of $35 billion, or 0.3%, according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit.
“The biggest increases came from auto debt and credit-card debt, which ticked up by $32 billion and $17 billion.
“Mortgages, the largest section of household debt, actually decreased in the second quarter, according to the New York Fed. The decrease in mortgage debt seems to be driven by more people paying down their balances, as new mortgage debt continued to tick up.
“Student-loan debt decreased by $2 billion, to $1.259 trillion . . . .”
According to Bloomberg, total U.S. corporate debt is about $30 trillion. The “official” U.S. national debt is about $20 trillion. Added together, that means the total U.S. household, corporate and government debt is at least $62 trillion.