Politicians like to claim the U.S. government should balance its books like the typical family....

|By:, SA News Editor

Politicians like to claim the U.S. government should balance its books like the typical family. But there's a problem with that analysis: American families are awash in debt, too. U.S. consumer credit totals ~$2.4T for borrowing on credit cards and for car loans, vacations, college loans... and that doesn't count the trillions in borrowing for home mortgages.