It's far more complicated (or simple?) than that. I tend to agree with Gene Glass in his remarkable tome, Fertilizers, Pills & Magnetic Strips: The Fate of Public Education in America (Kindle edition):
"Credit cards first changed America's spending and saving habits. Now they are beginning to shape public life; generations saddled with personal debt are unlikely to vote for taxes to build libraries, parks, museums, and schools." (Chapter Five)
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