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0zemp2c | 2 years ago

> The US is not getting poorer

then why am I being asked to bail out a generation's college loans?

then why is food bank use at an all time high?

then why are more six-figure earners reporting to be living paycheck-to-paycheck?

then why is personal credit card debt at an all time high?

discuss

order

Nanana909|2 years ago

> then why am I being asked to bail out a generation's college loans?

Wouldn't that fit perfectly with the comment you're responding to? Because the money is there. In fact I'd expect us to be bailing people out as we get richer. Less govern

> then why is food bank use at an all time high?

Food insecurity is no where near an all time high. https://www.ers.usda.gov/topics/food-nutrition-assistance/fo...

So perhaps there are just more people! (Anything can be an "all time high" or "record X" if you ignore this fact). Or local trust in food banks has risen. Or food banks have more money now to hand out more food.

> then why are more six-figure earners reporting to be living paycheck-to-paycheck?

Because the popular report you're citing here, sponsored by lending service LendingClub, includes buying groceries on a credit card as "living paycheck to paycheck" even if you're paying it off each month and only doing it for the points.

> then why is personal credit card debt at an all time high?

Because there are more people! Or are you actually talking about debt as a percent of income which is a more realistic stat? Because people spend less on their debt now than almost ever. https://fred.stlouisfed.org/series/TDSP

suddenclarity|2 years ago

> then why am I being asked to bail out a generation's college loans?

Because handing out money tend to give votes.

slater|2 years ago

> then why am I being asked to bail out a generation's college loans

because the previous generations fucked it up and pulled the ladders up behind them.

dangwhy|2 years ago

Last two are because of YOLO spending. There is high inflation in useless luxury goods like fancy bags.

hotpotamus|2 years ago

The US as a whole can get richer while the average citizen gets poorer through the power of inequality.