US Household Debt

US Household debt declined after the 2008 Meltdown and is currently at 2004 levels. We need to continue to reduce household debt back to 1980 levels. We need to spend less than we earn.https://www.federalreserve.gov/econres/notes/feds-notes/household-debt-to-income-ratios-in-the-enhanced-financial-accounts-20180109.htm We need to continue to buy single-family homes; it’s cheaper than rent and it is an investment that appreciates.

We also need to continue to increase our household income to save some cash for unforeseen expenses and use what we can to pay down debt.

We need to avoid paying interest on credit card debt. We need to make sure we can pay each monthly bill completely to avoid interest charges.

Norb Leahy, Dunwoody GA Tea Party Leader