Household Debt Remains Startlingly Low

Household debt has hit yet another record. Should we be worried?

Michael Strain says no, and I agree. This time, though, it’s more than my usual gripe about not adjusting for inflation. The thing to look at isn’t raw debt in the first place, but how much it’s affecting family finances:

The average family is spending less than 10 percent of its income on debt payments. This is the lowest it’s been since the Fed started tracking it. So not only is there nothing to worry about, you can even make a case that household debt ought to be a little higher than it is.

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Truth #1: The chaos is the point.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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