US Household Debt Reaches Record High Since 2008

The assessment is "likely_true" with high confidence based on a convergence of evidence from multiple relevant and authoritative sources. The most direct piece of evidence comes from a news article which states that while inflation-adjusted debt remains below its 2008 peak, "nominal household debt is at an all-time high." A nominal all-time high, by definition, means it is also the highest level since 2008, thus directly confirming the statement as it is written. The statement refers to the "total amount," which is conventionally understood as the nominal value unless specified otherwise. This core finding is strongly supported by other sources. A highly authoritative Bloomberg article reports that U.S. household debt is climbing at its fastest annual pace since 2008, which is consistent with reaching a new peak. Furthermore, an academic article and a bank's market review both cite the Federal Reserve Bank of New York's "Quarterly Report on Household Debt and Credit" as the primary data source, lending significant credibility to this conclusion. Several other sources were deemed irrelevant as they pertained to government debt, international trade, or the debt of other countries, and were therefore excluded from the assessment.