Feb
04

Doubling Debt

While per capita debt has ballooned from $1,640 in 1/66 to $53,000 today, it’s the growth rate that matters. Between 1/66 and 10/77 (11.75 years) the debt doubled. It doubled again by 7/84 (6.75 years), again by 10/90 (6.25 years), again by 7/05 (14.83 years) and again by 1/13 (7.5 years). The debt actually grew faster between 10/77 and 10/90 than today. Yet, we survived the debt-soaked 80s!

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