The debt system in America affects wealth building, housing access, and national economics.
The debt system in America has significant effects on individuals and families, influencing their ability to build wealth through various factors such as housing access, lending policies, and economic disparities. Immigrants, DACA individuals, and those without social security numbers can face challenges in securing loans, leading to higher down payments and interest rates.
National Debt can impact a country's wealth distribution, with social elites potentially controlling politics. Home ownership is a key wealth accumulation method, but high-interest rates can hinder low-income households from accessing this opportunity.
During economic crises, investor confidence plays a crucial role, affecting a government's ability to sell bonds and borrow money, as seen in cases like Detroit and Puerto Rico.
https://brainly.com/question/34785590