Household debt is at an all-time high as holiday spending season arrives

The total debt carried by Americans has reached yet another record high — $13.5 trillion in the last quarter, according to the Federal Reserve Bank of New York. Household debt is now $837 billion higher than its previous peak in 2008. What’s behind rising household debt, and is it something to be concerned about, especially as we rush headlong into the free-spending holiday season?

Click the audio player above to hear the full story.