How American household debt caused the Great Recession

How American household debt caused the Great Recession
How American household debt caused the Great Recession

How American household debt caused the Great Recession

U.S. household debt now stands at 11.65 trillion dollars. That’s a number so enormous it’s almost impossible to conceive, and most recent data shows that the number is still on the rise, though not as much as it was during the Great Recession. The notion that household debt is what is the root of our Recession, as opposed to the housing market, is the idea behind University of Chicago Booth School of Business professor Amir Sufi’s new book, House of Debt. Amir Sufi joins us to discuss household debt and how it caused the Great Recession. Photo Credit: ChicagoDistributionCenter