Middle Class Crisis

Brock Swingler

English 132-02

Mr. Njoroge

24 October 2011

Middle Class Crisis

Despite the country we live in, the middle class American still fears the never ending dread. This dread would be debt. Debt is one of the biggest problems in America today and continues to be the leading topic of debate by politicians. The three main causes of debt in America are: gambling, credit cards, and medical debts. These problems must be solved. Debt is a huge problem in the United States and affects millions of Americans. Coping with debt can affect different people in different ways, but is always a troubling situation.

Gambling is an addiction some people cannot control. Casinos, race tracks, dice, cards, and personal gambling is becoming more and more popular every year. Gambling can be addicting for some people, some people are willing to even bet money they do not have. Some people are forced to continue gambling until they break even or win enough to pay everything off. "Across all jurisdictions, gambling is conceived of as a potential or actual social problem; a vice to be regulated, taxed and controlled" (Downs, Woolrych 312). Not only does debt from gambling effect you and your family but other people as well. It affects the people you bet against. The person you owe could owe money to other people putting him in debt and possibly many more people. Casinos are the main cause of gambling debt. The number of casinos has increased dramatically over the last decade. "One activity that can precipitate personal financial crisis and that has also experienced dramatic growth is commercial gambling, especially casino gambling" (Barron, Staten, Wilshusen 440). Billions of dollars are spent every year on gambling. In 1998, the United States reached a record of $54.3 billion. This money was being spent on lotteries, casinos and devices, chartable games and bingo, Indian casinos, and pari-mutuels. A majority of Americans have some point in time been to Las Vegas, Nevada, The Entertainment Capital of the World. Not only do college students engage in high-risk behaviors such as binge drinking and sexual activity, but gambling as well. Gambling is becoming more and more surfaces throughout campuses nationwide. "Gambling is considered problem gambling if a person experiences negative consequences, such as feelings of guilt, inability to control gambling, and time lost from school/work" (W Stuhldreher, T Stuhldreher, Forrest 75). Students are not just engaging in casino gambling ,but along with sports-better. After the NCAA did a study, a report was found that a quarter of the athletes have gambled on some sort of college sporting events. Also, it is proven that men are more likely to gamble.

In today's society, cash is an object of the past due to credit cards have taking over. If credit cards are used responsibly with payments being made on time, they can be an advantage; if not they can cause many problems. More and more Americans are signing up for credit cards each day; in return,