Debt is slavery ... or at least indentured servitude of the worst kind. That looming mortgage, the high-interest credit-card debt, the short-term car loan - these are the forces that keep people from breaking free and taking action.
Ironically, debt begets more debt. According to FinAid, the average U.S. student-loan debt for a four-year-private-university graduate is nearly $36,000, and $24,000 for a public university. Throw in that first car loan and maybe a mortgage, and suddenly you're staring at hundreds of thousands of dollars in demoralizing claims on your future income.
At this point, most people figure: Hey, I'm already in debt up to my nose; might as well get in up to my eyeballs and buy a new plasma screen on credit.