Experts: Consumers' $13.5T Debt Jeopardizes Economy

As U.S. consumers flock to malls and online websites for last-minute holiday shopping, they will add to the record $13.5 trillion in household debt that this country has never seen before, according to the Federal Reserve Bank of New York.

The $13.5 trillion represents a $219 billion increase in the third quarter ending Sept. 30 over the second quarter of this year. That quarterly gain was the largest since 2016.