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.
Receive Unlimited Access to ALL Newsmax Platinum Reports!
By becoming an exclusive Newsmax Platinum member, you receive:
- special investigative reports
- breaking political insider news, including VIP interviews from Washington
- in-depth interviews with A-list celebs driving the day's headlines
- thousands of articles you won't find anywhere else!
All just by becoming a Newsmax Platinum Member today!
Sign Up for Platinum AccessLogin