What outrageous statements. Take a look at these data. When haven’t most Americans lived paycheck to paycheck, which by the way includes spending that paycheck on far more than the basic necessities of living. If the Sanders statement was accurate, how could US consumers drive 70% of our economy? Is it only 50% of Americans who buy “stuff,” go to sports and entertainment venues? And keep in mind, it’s not the wealthy that drive consumer spending, they invest their money.
No money? Paycheck to paycheck? Humm Only half live paycheck to paycheck? That’s quite an improvement.
It was the second-largest online spending day in U.S. history, coming in behind Cyber Monday 2019. Adobe expects Cyber Monday 2020 to become the largest online sales day in history, with spending between $10.8 billion (15% year-over-year growth) and $12.7 billion (35% year over year growth).”
In-store and curbside pickup increased 52% on Black Friday year over year, as many consumers looked to avoid in-store shopping.
Underinsured is an interesting concept. There is no doubt that low income families with high deductible health plans and high health care spending will struggle with costs.
However, underinsured includes deductibles, co-pays, and coinsurance. These amounts are nearly always deemed unaffordable in surveys simply because Americans do not see them as part of their spending budgets or responsibility. Who wants to spend any money on health care? And we quickly forget that the lower out of pocket costs, the higher premiums … and that includes all forms of insurance, including government programs.
Oppressive student debt? Going to college is a choice, the degree of preparedness for college is a choice, where to go to college is a choice, the type of school is a choice, the course of study is a choice, the time spent in college is a choice, the career following college and related income potential is a choice. Enough said.
To apply a blanket student loan statement and propose largely unqualified loan forgiveness is naive and irresponsible.
What really needs to happen is reassessment and restructure of our education system from grade 9 upward, better evaluation of college preparedness and qualifications and more support for vocational programs.