A sobering article on our nation's personal debt problem was recently posted on SmartMoney.com.

 

The article can be found here.

 

 

I found one section of the article particularly troubling ...

"According to the Federal Reserve, U.S. consumer debt has reached $2.43 trillion, or about $21,900 per household, a number that has nearly doubled over the past decade — and doesn't include $10 trillion in mortgage debt. Looked at another way, consumer debt today equals 132% of the average household's annual disposable income."

 

This looming problems experienced by folks who got in over their heads on their mortgages has been well documented, but the $21,900 statistic is new to me.

 

Wow...are we really that much in debt? 

 

Are you in having trouble with debt?  If so, how did you get in that position?