Society in the 1950s

            The article titled " A Nation in Debt" explained the debt increase in the 1950s society. In the Fifties, the concept "buy now, pay later" was introduced along with the first credit card (the Diner's Club card). Private debt doubled from $104.8 billion to $263.3 billion in the 1950s. Credit card purchases benefited the U.S's 1950s economy. Although, the U.S and the middle class did well during this time 25% of citizens lived in poverty. The U.S. citizens who were affected were blacks who lived in urban neighborhoods and lower class whites. President Eisenhower bel;ieved his approach to the economy proved to be successful, even though it didnt reach everyone.