Why Americans are Always in Debt

Ever wondered why debt seems like an unavoidable part of the American life?

First, there is the credit culture. In the U.S., spending future money

is built into the economy. Then there is education. Higher learning often

comes with a price tag that takes decades to pay off. Medical costs also

play a huge role. One unexpected emergency can lead to thousands in debt.

While the cost of living keeps rising, average wages have not kept pace

for the last forty years. It is a complex mix of systemic issues and

social pressure. Understanding it is the first step.