Overall American greed does help lead to the debt problems we face. Many of the items we use does not even come from America, yet we have so much of it here. Our greed is the reason America keeps buying things from other countries, what we need to do is learn how to make more of our own stuff.
American Greed allows for people to ignore those that need in an effort to take more and more for itself. The more we allow this greed to dominate the more people will loose, the more they will have to borrow, which will lead down a long chain to debt. The thing about American Greed is the more one person has the more they want till only 1 or 2 percent of the population has and the other 98 to 99 percent needs and it is that need that creates debt and limits the growth needed to fight the debt.
I agree that American greed leads to major debt. The American way is bigger and wants more things. Material possessions make Americans happy. Got to keep up with the Jones. Americans work so they can buy more things: bigger homes, cars, boats, jet skies, motorcycles, the list goes on and on. The problem with this way of thinking is that Americans buy more and more and then find themselves running out of money. The solution: get credit and credit cards. The thinking is no problem, I will pay this off. It becomes an endless circle. Buy more toys and material possessions, get more credit, and so on and so on. Until they find that the credit exceeds the income and they are faced with not being able to pay off the credit. The debt gets worse and if they continue this vicious cycle the ultimate end is bankruptcy.
The rich are being taxed more and when more money is took from them than the rest of America it makes them less likely to give. The reason we are in debt is not because the rich do not give enough it is because the government does to much unnecessary spending. The rich typically have worked really hard and earned there money. So overall greed is not the reason, lazziness is because the rich are paying for people to live off the government.