The favorite right wing talking point today is that the current crisis has been brought on by the entire world living beyond its means. Say what?!! REALITY CHECK You can not consume goods that have not yet been produced. In the same vein, you cannot borrow from the future or from your grandchildren. It must exist in the here and now or you cannot consume it or borrow it. PERIOD, THIS IS REALITY!!!!
The rich and their rightwing/teabag shills want you to believe that you owe them vast sums because somehow you have consumed goods that you produced but they it was okay that they paid you sub-standard wages for doing the work. WAKE-UP SHEEPLE! They HAD to loan you and the government money because they couldn't get rid of all the un-taxed profits otherwise and their little Ponzi scheme would have collapsed 30 years ago. (As it nearly did several times)
This is why trillions of USD are piling up in bank accounts to the point that banks need to charge for sitting on it. If this money was forced to circulate in the economy by a Progressive tax system and kept from piling up in the hands of Wall Street pirates by meaningful financial regulations we would be far better off than China who is now eating our lunch.
We could be living in a golden age instead of a new gilded age where only the top 0.3% are amassing wealth while the "bottom" 99.7% become poorer. Even you upper middle class right wingers who have some wealth are really getting poorer on a daily basis. Check your bottom line.