I was taught that too and even more if you work in a cyclical industry like auto, aerospace, etc. But even outside of government workers, a -significant- portion of the population lives paycheck to paycheck. It is a Reagan era thing, “spend it while you got it”, and living off essentially credit.
We say they are Swedish. LOL j/k.
It reminds me of an old joke my dad used to tell whenever he skimped. “what does the Big bird say to the little bird?”
Answer: (in a deep loud voice) “CHEEEAAAP”.