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Interesting Fact (Household Debt)

September 08, 2021
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Households have entered 2021 armed with boatloads of cash and the cleanest balance sheets they have had in decades. Households finished 2020 with $14.1 trillion combined in checking and savings accounts, compared with $11.4 trillion in 2019. Their debt-service burden—the percentage of after-tax income used to pay off debt—fell to its lowest level in records going back to the early 1980s.-The Wall Street Journal, March 21, 2021