Consumer credit continues to go up

There is so much social pressure to keep up with the Jones' and spend, which may be possible during the best of times, but we're not exactly there right now. Think back to the early years of the Bush administration when the GOP was doing the dirty work for the big banks and instituted new legislation for bankruptcy. Consumers would have a much more difficult time declaring and would be stuck with that bad debt. Fine. Fair's fair, right? Not exactly.

The bailout of Wall Street - on the taxpayer's bill - helped Wall Street continue making bad decisions, forgave billions of bad judgment and allowed Wall Street to continue living their posh lifestyle, well above their means. The big difference here is that consumers are stuck with the bill while Wall Street gets a pass. Overspending and living beyond your means is a problem whether it's Wall Street or Main Street (or Congress) so why the difference in who receives a bailout?