Add this to Social security, health care issues and we are in a bind.
And to think that kooky guy, Ron Paul was telling us to balance our ledger. Pffttt..
Nice article, the last paragraph sums it up nicely:
So, after all this, we end up with the same old story. Whenever you see a financially driven boom and people tell you, "This time it's different," don't listen. It's never different. Sooner or later, the bubble pops, as it has now. And you and I end up paying for it.
Long term result of this mess is that upper management will get richer while the rest of us get poorer. We finance our greed while they're the ones that profit. So in a few years, how much higher will CEOs pay be as compared to the average Joe's, 1000x? The sky is the limit.