In what way? I think it's working exactly as intended, to siphon wealth off to the ruling class. Spending is like a gas, it will expand to fit its constraints.
Those stats are not great for borrowers, but they're great for lenders. One take is to blame the lenders -- they lend too much, chaining the borrowers to debt. The other take is to blame the debtors, reframing those stats as, e.g., "Over 34% of borrowers have delayed starting a family because they preferred spending borrowed money."
The truth is of course somewhere in the middle: debt is a wonderful leverage tool when used properly, but lenders will gladly give you more than enough rope to hang yourself. In today's world the only one looking out for you is you.
(for the sake of this comment, I'm talking about non-medical debt)