The Debt Behind the U.S. Economic Recovery

Eric Garland DataLab

The overwhelming mainstream narrative about the U.S. economy is that there was a recovery, a term that indicates a reversion to a prior, superior state. Have you ever seen recoveries marked by this level of debt? The only outlier is in U.S. households, which appear to be putting less money toward existing debt each month. If it’s a recovery, we’ve never seen one like it.