3 min read Economy & Policy

America’s $18.4 Trillion Debt – And Why Nobody’s Screaming (Yet)

Satirical cartoon of Uncle Sam eating cereal labeled “DEBT” with credit cards poured from a $18.39T milk carton, as a child uses QR code and a dog holds a foreclosure notice.
Uncle Sam starts his day with a bowl of “DEBT” — topped with credit cards and a $18.39T milk carton — while a kid pays with QR and the dog chews on a foreclosure notice.

Summary

U.S. household debt hit a record $18.39 trillion in Q2 2025. Mortgages are still holding, but student loan delinquencies are exploding. Gen Z can’t repay, Boomers won’t stop borrowing, and somehow the Fed still says “we’re fine.” Let’s unpack that.

Introduction: The Debt Never Left

Debt is back. (Actually, it never left.)

According to the New York Fed, household debt in Q2 2025 rose by $185 billion to a total of $18.39 trillion. That’s a 1% quarterly increase — not huge in isolation, unless you remember this isn’t crypto. This is real, compounding, interest-bearing debt: mortgages, credit cards, auto loans, student loans.

And despite decades-high interest rates, Americans keep borrowing. Boomers, Gen X, Millennials, Gen Z — they’re all in. The difference is in who’s defaulting. And how quietly.

Derek from TrendFoundry

Derek from TrendFoundry

Breaks down AI, tech, and economic trends—usually before your boss asks about them. Founder of TrendFoundry. Writes like a smart friend with too many tabs open. Still refuses to call himself a “thought leader.”
San Diego, CA, United States