The Truth About Debt in the United StatesThe outlook on debt in America is down right frightening. We live in a country where debt is the new norm and the poverty level for the elderly is on the rise. One shocking revelation is the fact that the average credit card debt per household is $16,748.

That is why it is more important than ever for Americans to start getting out of debt and increasing their retirement savings. Here are some shocking statistics about debt in the United States: