That is a staggering statement about the mentality and mindset of MANY people in this country.
They always think that there will be a tomorrow and hence, get everything they "want" today and go into debt and be on the hook for monthly payments, which eats up there monthly net income, and one little hiccup in their lives will ruin them financially...
I taught my children to never do this. PAY for the things you will purchase withonly 2 exceptions. The HOUSE youwill purchase and a car taht you should only ever have 4 years max to pay off. (Iused to say 3 years but prices have gotten ridiculous for new vehicles the past 5 - 8 years)
Be DEBT FREE. PAY for things with what you actually HAVE
and if you don;t have the money, wait until you do.
It is All about priorities. save money. BUILD A NEST EGG FOR RETIREMENT as you go thru life's various ages.
Then, when you reach those years you will actually plenty of resources to live comfortably and not worry.
My kids and their spouses have all sat down to listen to me and my wife about financial preparation for life.
I was doing Dave Ramsey things long before Dave Ramsey ever thought about it. And I think he is wrong on a lot of stuff.
That said, control your spending and stay out of debt as much as possible.
This way you are mnot owned by the BANKS and Financial institutions and not dependent upon BIG BROTHER either...
Finally,
yes, I know I Am preaching to the choir.. 
These kinds of stats just bother me...
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