Most people in the US live beyond their means through credit card debt.
I don't really see how that holds, historically it clearly hasn't?
True, I should clarify that I meant that the US economy is currently (and historically) based on a high level of consumer spending. Therefore companies are in for a shock when that level drops due to people spending less.
I eat aluminum cans!
You're either saying something obvious and universal, or something blatantly false.