Coming from an immigrant family myself which stressed savings and frugality above all, and who even with basic literacy and no formal education understood that debt was a trap, and that under no circumstances should you ever borrow money, I wonder what's wrong with 5th+ generation Americans who think they can get something for nothing.

Not to say anything about predatory lenders, who all belong in hell right next to the people selling miracle cures for Covid, but come on. The only reason there are so many people who fall for these traps is that the economy has grown and grown thanks to the endless influx of immigrants who create value. Left to their own devices, without immigrants who work and save, Americans would end up an impoverished banana republic within one generation.