Americans are addicted to debt.

It is the fuel that powers this modern day version of capitalism. In order to drive consumerism, it is necessary to convince individuals to spend money they don't have in order to purchase increasingly unnecessary trinkets they can't afford.

Have you ever wondered just how serious the issue of debt is. Well, we have compiled 50 statistics on American debt and habits.

Try not to cry.

“Every time you borrow money, you're robbing your future self.”
~Nathan W. Morris

• Americans hold a total of $13.51 TRILLION (yes, with a T) in consumer debt. 1
  
• Mortgage debt is the largest type of debt held by Americans; approximately $9.14 Trillion. 2
  

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