Sad state of affairs when promoting savings, avoiding debt and living within one's means has to be defended. And the only patriotic thing to do is to spend, spend, spend and run oneself into bankruptcy to prop up the rich guys.

My wife has lost half or more of her modest retirement fund of "investment grade stocks." Yet, the fat cats on Wall Street and high finance are not hurting for money. When their companies go bankrupt, they make out with millions upon millions of dollars. Why don't they ever lose? Yet it is all put on the little guys to rescue America by compulsive spending and living beyond one's means as the patriotic thing to do.

If the governments wants me to spend like a spendthrift, then they should send me the money earmarked to spend and I will spend their money. But I plan to keep cutting my spending down to the bone, as patriotism has little to do with it and it is more of a question of survival nowadays.

And which has so far cost me, along with a few million others, thousands of dollars of reduced value of assets per person.

Plus ... printing money as you are, and going deeper into debt, very likely a good shot of inflation will appear next ... which will enable the governments, corporations and individuals to pay off their debts with reduced-value dollars.

As the main banker to the U.S., China likely will be unwilling to lend much more money unless some inducements are offered, namely, higher interest rates.

Can you imagine the screaming if the borrowers in the U.S. (and elsewhere) get hit with interest rates, say, double current levels?

ole joyful

We have been enjoying a 50-year period of self-indulgence. Banks have approved loans of twice as much as the consumer can easily afford the payments on. The consumer hasn't been paying attention and thinks that the bank wouldn't approve the loan if it was more than they calculated the consumer could pay. Mistake #1.

With the advent of television, we are a captive audience for rampant advertising. I counted 15 commercials during the commercial break of a program I was watching. Then five minutes of programming and another commercial break. The advertisers know eventually some of us will succumb. Our 'clean slate' children sit in front of these advertisers every day. We indulge our children with every little gimmick they want, and they want everything they see because "everyone but you has one". Mistake #2

Because we've borrowed so much money that we can't afford the payments, both husband and wife have to work. This both fills a job and creates one, because someone has to care for the children. The job filled is one that probably wouldn't have existed if people weren't in a spending frenzy. Mistake #3

Too many people buy stuff they don't need and don't want once they get it home. That's why all the thrift shops have so many clothes on their racks, some of which still have the tags on them. That's why, any given weekend, there are dozens of yard sales with tables full of stuff marked at 1/10th of their previous value. Shopping has become recreational for too many, instead of just a way to procure needed items. Mistake #4

People don't routinely put money in savings any more. Then when a rough patch comes along they're borrowing money at a payday loan place. It's just so easy and they're so friendly! End up deeper in debt than ever. Mistake #5

Credit cards are a pox upon the world. Easy to get. Go on a spree and max it out, pay the minimum balance, get another card to use. Before you know it you have multiple cards maxed out. The interest that accrues is sometimes more than the minimum payment. Most people don't even know the interest percentage and are shocked when they find out. Miss a payment and you get charged a fee for doing so, then you're over your credit limit and you get charged a fee every month for that, too. If you never use the card again, it can rack up an astronomical balance all by itself. Mistake #6.

Financial institutions and corporations claim they need a bail out to stay in business and keep providing jobs. So they get what they ask for and then throw a big expensive party or pay huge bonuses to employees who need them to keep up their lavish lifestyle, and NO ONE punishes them for doing so. Madoff bilks people out of billions and he's not in prison being Ripper's girlfriend. Mistake #7.

Our children are over-booked and driven by car everywhere they need to go. They go to dance class, soccer, karate, baseball, swimming class, etc., etc. They're KIDS. They need time to just PLAY. Neighborhood kids used to get up their own ball team and play in a local park. Some kids preferred to ride their bikes and they went all over the neighborhood. They were having fun, not competing, trying to WIN. Now they're driven for miles, they have to have expensive uniforms and all the best equipment and expensive bags to carry it all in. Mistake #8.

Our teenagers are spoiled. Advertisers know they have more money to spend than any other consumer group. They can't just listen to the radio, which is free. They have to buy music to put on their MP3 players which blasts into their ears all day. They are either using their cell phones or computers when they could be hanging out with their friends or working a part-time job, or baby-sitting, or mowing lawns, or, God forbid, doing their homework, having a hobby or reading. Mistake #9.

People are taking out memberships in gyms to keep in shape. Then they get in their car to drive two blocks and take the elevator. They buy 'energy drinks' and 'fiber bars' to make up for the fact that they don't eat right. Mistake #10.

I could go on.

The cure is not to throw money at it. It is to become realistic again. Live within your means. See advertising for what it is, learn to resist it and teach your children to do so. Get those credit cards paid off and don't buy things on credit any more. Save for what you want, pay cash.

Yes, people are losing their jobs every day. My DD lost her job 2 months ago, got another one, and lost it yesterday. If you're working 'just to have something to do', then be patriotic and go volunteer somewhere. Let someone who needs a job for their very survival have your paying job. If you're a mom of a two-income family, sit down and figure out whether you actually get anywhere, financially, by working. You have to pay for child care, plus conveniences that you wouldn't need if you didn't work. Plus clothes, transportation, etc. Plus every penny you make has taxes taken out of it. If you're old enough to retire and can survive on your retirement, now's the time to do so and open up a job for someone that has little children to feed.

Need to shop as recreation because you haven't got anything better to do?? Oh, for heaven's sake! A Prada shoe is just a shoe. An Escalade is just transportation. Make the world a better place: volunteer, help your neighbor, learn to garden, learn to cook. Get a bicycle to save on gas. Become real again.

We don't have friendships, we're bored, and we're more obese and sicker than ever before. My mother always used to say, "If you're going to dance, you have to pay the piper". We've all been dancing for 50 years. Was it worth the price we're going to have to pay now?

Back on "9/11" I really got irritated with all these people who all of a sudden started flying flags to prove how patriotic they (allegedly) were. I refused to. You don't prove patriotism by buying and flying a flag made overseas. I prove my patriotism every day and I don't need to buy a flag and put it up claiming I'm patriotic only to turn around a be hypocritical as were so many. I'll hold the door for a person, pick up something they drop and give it back to them. I take pride in my work and I'll take responsibility for my actions. I'll buy from local stores, combine my trips, keep some sort of nest egg as best I can and keep some food in the house so if the stores need to close, I won't be looking for a news camera to cry in front of. When the storms came through I didn't demand a FEMA trailer, I got out and cleaned up the branches, trees and "made do" with the power outage. I reduce, reuse and recycle and what's more, I'm not afraid of a light bulb. I proudly use fluorescent lights in much of my house, conserve natural resources and plant trees and grass. When I could, I was active in local government and stayed informed and shared this info with people. I volunteer, contribute to worthy causes both money AND TIME and most importantly come election time I've gotten off my a$$, campaigned for people I believed in and what's more I truly prove my patriotism.... I VOTE! Voting may be (and in deference to my buddy Joyful's and my running disagreement about having no "rights") a privilege, but to me it's a DUTY. My opinion is that if you don't vote you have no privilege to complain.

Yes, we have many problems as stated so eloquently in one of the above posts by Ilene, which I totally agree with. I am still going to fly my flag, at this point in time, we have the freedom to do so. Even when the current administration continues to take our rights away from us by inflating a bulging government, I will still fly my flag!

Please don't waste time flaming me, I've lived through Jimmy Carter and the Clinton's, I've seen what big spending has done to this country. I only want to see the best for all of us, and printing money 24/7 to pass around and share, making people believe they are going to get some big stimulus check in the mail does not impress me.

I only started this reply because I am going to fly my flag, and nothing is going to stop me! I am proud of my country, my military family members, father's, grandfather's, and great grandfather's who served. I have respect for those who have fought and died for this country. That's just who I am.

I love this country, I respect the sacrifices made by those men and women who have given their lives so that I have this privilidge to sit here and express my views.

Yes, you bet I am patrotic and I agree with 99% of what has been talked about here.

Being a patriot has nothing to do with spending money. In fact, you can be quite the patriot and a socialist. You can be a capitalist and not patriotic at all. I fail to see how the two concepts are connected.

DH and I shop the local (non chain) stores and restaurants, recycle, buy books at the thrift store and then donate them back, post our unwanted large items on CraigsList instead of tossing them, do the painting and small repairs around the house ourselves, eat vegetarian, do not buy bottled water or soda, share one car that we brought with cash, and pay our credit bills in full each month. We have no debt except a mortgage that will be paid off in a few years.

I agree with most of what was said here: Being patriotic means voting at every election (but only once, smile), buying local, recycling and reducing what is tossed, paying our taxes, managing our money wisely (so that no one has to "rescue" us), and supporting the local schools, charities, etc.

Isn't it crazy how the stores twist the word patriotism to mean that we should help them survive? It might be just me, but it seems that only the chains and big box stores use this cynical sales pitch.

So, fly your beautiful red-white-and-blue flag now, while you can. Soon you'll be required to fly one with a red dot. And, we'll need to learn a new language - ALL of us will be required to speak it. No more signs in english and spanish!