The US household debt burden has almost never been this large: US household total debt service is up to 30% of gross disposable national income, the highest since at least 2008. This means the average American household is now spending nearly 1 out of every 3 Dollars they earn after taxes just to pay off debt. This comes as household debt interest payments are up to ~10%, the highest in at least 18 years. Furthermore, total US household debt surged +$197 billion in Q3 2025, to a record $18.6 trillion. Meanwhile, principal amortization, or the portion of debt payments that goes toward paying down the actual loan balance, not interest, is up to ~18%, the highest since at least 2008. The debt burden is squeezing consumer spending power.(The Kobeissi Letter)