Apost from a forum on Reason Online:
Warren | February 12, 2009, 9:44am | #
...The FEDs role in getting us here was minimal. Indeed there's plenty of blame to go around. We got here because we tried (and we're getting in deeper because we're still trying) to run the economy on debt.
We've got too much debt. Our government is too deep in debt. Our corporations are carrying too much. And our households put to much on the plastic.
To get out of this, we need to pay down our debt. But that's just the opposite of what we're doing. We're like a junkie trying to "get well" by doing more and more heroin. That strategy leads to a very predictable outcome.
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