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While holding debt encouraged, I would argue the lack of a progressive social system is why people need to dip into credit cards at the rate they're doing. In

While holding debt encouraged, I would argue the lack of a progressive social system is why people need to dip into credit cards at the rate they're doing. In a country where a medical bill can bankrupt you or you need to work x3 min wage jobs to get by, it's hardly surprising that it's the case. Saving up $500 / month is out of reach for a significant number of Americans. So debt is the only way to do basic things such as car repairs or handle emergency expenses. You can even see this with the COVID response, where European countries are paying 80% of salaries, whereas in the US you get a flat $1200 check, once. The entire system is just skewed towards the wealthy.

luckylion 7y ago
Everybody got $1200 though, and those that are laid off or furloughed get federal assistance as well if I understand correctly. Those 80% you read is for those furloughed in Europe, but nobody (at least here in Germany) just got "free money to stimulate the economy". And the so called Kurzarbeitergeld (literally short worker money) is part of the unemployment insurance which is about 2.5% of gross income (half is directly deducted and paid by the employer, half is paid by the employee). There's no charity state here. Just pay for insurance, you can have that as well.