The world isnt America.
And also why are you using an example of 600k cc debt? 6k debt cc is more realistic and would be easily payable by someone on 75k. Dont get me wrong, the american debt situation is not good but society still moves along while people fall through the cracks.
MerryJaneDoe@lemmy.world 17 hours ago
I think you’re missing the point.
Our national debt is about 15 times higher than our GDP.
It’s NOT like a person making $75k/yr and owing $6k. It’s much more like someone who owes $600k and makes $75k.
It’s out of control. Reckless.
Fizz@lemmy.nz 12 hours ago
Why are you comparing government debt to individual credit card debt. They’re not comparable.
The debt to gdp ratio for the us is not good but its not society ending.