US Household Debt Hits Alarming Record—Why It Could Trigger an Economic Slowdown

New York, Monday, 22 June 2026.
American households now owe a staggering $19.9 trillion in debt, the highest ever recorded, while savings rates plummet to a 65-year low. With borrowing fueling nearly all economic growth, experts warn this unsustainable trend could spark a spending slowdown—or worse, a financial crisis if jobs or wages falter.