The economic break down

What is up with our government? A $700 billion bail out of our tax dollars? Did they rely expect this to work? It jest baffles me. This economic problem that we are having is (I think) in the years in the making. The general public had for years had the mind set of "buy now, pay later" gimmick. They got this from the credit card companies, and bought in to this, and jest ate it up; thinking "look what I can get, I don't half to pay now, I can do that latter!" Or the all famous "I'll jest put it on the credit card." Then they find out that when they get a bill; if they don't pay it on time, there APR goes from 3% APR up to 30%APR, (I know that not all credit company's do not have the same APR policy), and can't pay it, so bankruptcy occur, and the credit card company's , and banks looses money leaving us in one big economic mess.

What is the next step? I don't know. Some experts say that this recent economic problem it is not like the 1930's great depression but more like the 1980's saving and loans crisis, and the government had to bail them out. They believe that once people catch their breaths they will see this is the proper analogy /or act and this will breathe life back into banking institutions. The question is will this work? It may have worked once, but people will still abuse credit cards like we have in the past, and the process will continue in one long cycle, over and over again.

We hear people moaning and groaning about the recent economic problem. We want to have someone to blame, we don't want to take responsibility ourself. So people end up blaming everyone else and there dog. Will we ever take up responsibility for our own problems and mistakes?

FYI: I do not own a credit card, I never have. I have always thought that if I got one I would abuse it like crazy and therefore; I would not be able to pay it off. Credit cards I think are for people who are disciplined, and responsible enough to hold one.

This is my thought what is yours?