Yes. Rising debt in America has been a problem for quite some time. To say that the household debt in America has had a direct impact on the nation's GDP is a viable statement. Household debt effects that respective household's ability to purchase items, and in turn, effects their ability to drive the nation's economy in a positive direction.
GDP stands for Gross Domestic Product which is the "total gross value" in the marketplace for all the goods, services, and products produced in a given period of time, usually a year. It is a measurement of value only, not sales. Household or personal debt is the resulting balance of money owed for actual consumer credit purchases of products, goods, and services.