If you've taken out a loan to make a major purchase recently, you're probably not alone. Consumer debt is at its highest level in a decade following the recession in 2008, according to New York Times. Although debt and recession aren't usually used positively in the same sentence, a high-level of consumer debt actually signals confidence in the economy today.
While this is a good sign for the economy overall, the implications of debt at the household level can vary from family to family. Financial experts quoted in the Times do warn that debt can have its downside too.