This country is in a whole, and wealth is not the issue here; spending our wealth is the issue, which leads to a lot of debt. How is it that we are one of the richest countries in the world but are in so much debt that that particular title is doubted?
With too many Americans, it continues to be about keeping up with the Joneses. Too many Americans live in a want economy. If they want something and have available cash or credit card space then they buy it, regardless if that money should be going towards rent or other bills. Americans need to be more conservative on their spending.
I believe that debt is the issue in America today because the cost of living is sky rocketing and the income is not substantial to what we owe for example peoples student loans are crazy expensive and if we didnt have student loans we could afford alot more things in our life
I think that the whole problem that is wrong with the US today is the debt that the country is in. I think that the government needs to do something drastic so that they can cut the debt down by a whole lot and so that they can fix it all.
One can say that both are a problem because the extreme wealth of a few is helping to facilitate the poverty of the rest and the debt that happens when things can not be purchased otherwise. Our main problem right now is income inequality, especially when it is really the inequality of opportunity for many.