Consumers' debt burdens and the economic effects of their efforts to reduce them have been exaggerated a prominent researcher has concluded.

Michael E. Staten, director of the Credit Research Center at Purdue University, said the news media were too quick to blame the 1980s' debt buildup for holding down the recovery.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.