Americans have $1.13 trillion in credit card debt
- By RileyG
- American Politics
- 11 Replies
Yup. It’s driven by materialistic wants. Stores want $$$$ so people spend money on things that aren’t necessarily needed. I’m very guilty of this.This phenomenon is not a result of policies from either the Democratic or Republican parties; instead, it stems from American culture and a widespread desire for material possessions. The emphasis frequently centers on acquiring numerous goods—televisions, for example, are often found not only in living rooms and bedrooms but also in dining rooms and kitchens. Many households own multiple refrigerators, sometimes placing extra units in basements or garages. These habits reflect a broader pattern of consumerism among Americans. In the last five years alone, over one billion iPhones and Samsung phones have been sold in the United States. No other culture demonstrates such an intense appetite for material things. Our drive for consumption seems limitless. Just last Friday, Americans spent $11 billion purchasing items that most people do not actually need. Ultimately, no policy or solution addressing income inequality will make a difference unless Americans learn to live within their means.
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