Americans are victims on a national level of a vast transfer of wealth to the top 1%. The percentage of the nation's wealth held by average Americans has dropped from around 40% to around 25% over the last 3 decades.
No one is "entitled" to anything, but there was for much of my life an implicit social contract that if you got an education and worked hard, you would be rewarded with a 'middle class' lifestyle. The house, the car, the vacation at the beach. With real income for working Americans declining, that is no longer a reality. But we have a consumer based economy which will collapse if working Americans stop spending. Increased debt must therefore be encouraged in order to keep the economy functional.
It can't last forever, of course. Increasing consumer debt is a short term political measure that only ameliorates the fundamental problems for a brief period.