I believe counter to those stats, the average American has more cash in their savings then ever before.
Nevertheless poor financial management, ie paying big CC interest on thousands while holding thousands to pay it off is a bad move. People are by majority dumb enough to do that.
There will come a time between it all where people have to start making choices which bills to pay. Whoever is left holding the bigger bag is going to have the feds swoop in like an off-brand batman to save them. It's a tale as old as time
Oh those savings are mostly depleted by now.
And given the number of people behind on utility bills, choosing which bills to pay has been going on for a while - ‘I expect a tsunami of shutoffs’: 20 million American households are behind an average $788 on their utility bills — here are 3 simple ways to drop your monthly costs