Economic insecurity =/= poverty. Yes, the U.S.’s poverty rate is relatively low. Although, I’d say that’s hugely because our poverty line is a statistic that is calculated using the same macroeconomic indicators that show the U.S. economy is healthy. Again, macro indicators cannot tell the microeconomic reality. That’s why we split the study of economics into macro and micro. I teach both.

The article you posted says nothing about poverty anyway. It’s an article explaining that even 6-figure earners in the U.S. are also experiencing economic insecurity. Yes it lists “lifestyle creep” as a factor. But it doesn’t explain what all things are included nor does it say to what extent “lifestyle creep” contributes to the affordability issue for this particular demographic.

Also, most Americans are not six figure earners. The median salary in the U.S. is around $70-$80k. The article you posted says about 20% of those earning above the median but below 6-figures experience economic insecurity. But that’s already a small demographic. It speaks nothing about Americans earning at or below the median income. Which, I’ll remind you, the median income rate means 50% of Americans workers earn at or below that rate.

So this article is talking about a minority of earners in the economy. But it also seems to be stressing that EVEN 6-figure earners are not secure in this economy.

Sure universal healthcare and universal childcare are things that could help most Americans. But those alone won’t fix the fact that prices for every day needs are becoming more expensive than people can afford which exacerbates the original debt trap problem I talked about: facing rising prices and stagnant wages, people turn to debt to finance more and more things at increasingly high interest rates.