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A $60 Trillion Inheritance…in Debt

Submitted by Jill Yoshikawa, Ed M, Partner of Creative Marbles Consultancy on June 18th, 2014

Wishing a better life for our children is normal.  Actually setting aside our personal wants in favor of our children is more complicated in practice.  The next generation will inherit a record $60 Trillion in total U.S. debt—government debt, business debt, mortgage debt and consumer debt. (See chart below) Furthermore, the growth of student loan debt, a $1.2 Trillion subsection of the total $60 Trillion debt, is outpacing consumer credit card debt and auto loans.

Welcome to the new millennium.

Total-U.S.-Debt(sm).CMCHC2014

Click to Enlarge

Chart courtesy: zerohedge.com

 

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