Debt Continues to Drag Down American and Global Economies

If you want to trace the weakness in the US economy to one root problem, here it is in a word: debt.
To many economists it's a conclusion that's hard to avoid. The lingering effects of a credit boom and bust continue to hinder a strong economic recovery.

Lest we forget, debt problems were the precipitating cause of the deep contraction of 2008. And still today, US consumers remain saddled with historic debt burdens. What's more, government borrowing has soared to worrisome levels, and banks face piles of bad loans – a problem that makes them less able to provide new credit to the economy.

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