American's Debt Growing Says Census

Amount Of Debt Climbing In Households

According to a study by the U.S. Census Bureau the percentage of U.S. households holding some form of debt declined from 74% to 69% between 2000 and 2011. At the same time, the median amount of household debt increased over this period from $50,971 to $70,000 (in 2011 constant dollars). 

Between 2000 and 2011, the largest increases in median debt were experienced in households with householders age 35 to 44 (to $108,000), 45 to 54 (to $86,500), and 55 to 64 (to $70,000). However, the largest percentage increases in debt belonged to householders 55 to 64 years old (64 %) and 65 and older (more than doubling to $26,000). 

Furthermore they study says, people 65 and older were the only age group whose likelihood of holding debt rose over the period (from 41% to 44 %). The opposite pattern was observed for those under 65.