Zero Hedge has a great post detailing how the debt saturation of America will mandate US citizens to have a reduction of standard of living. Click here to read.
It's a good post, alerted to me by The Hope of Slope blog.
Well worth the read, and just another fun tidbit to bring up at parties.
My spin is the people who are 5 to 30 year old, will eventually say "no more", and America will default on debt. So there is hope after the people are freed. My guess is 10-20 years from now.
By then, we'll have several lost generations of chronically unemployed.