"...in recent weeks, as the financial crisis reverberated from Wall Street to Washington, consumers appear to have cut back sharply...When the final tally is in, consumer spending for the quarter just ended will almost certainly shrink, the first quarterly decline in nearly two decades. Many economists, who began the third quarter expecting modest growth, now believe the cutbacks are so severe that the overall economy did not expand either, and they warn that a consumer-led recession could be more severe than the relatively mild one earlier this decade."
A consumer-led recession?! Let's pin this one right on the backs of the American people, why don't we? Whether it's the mom trading down from sugary brand-name cereal to generic 'Os, or me taking the subway instead of a cab--it's our fault we're in this situation. Whiners!
Or maybe people "feel poor" because they've been living outside their means for a decade and a half. And the funny thing about an unsustainable level of debt-financed spending is that at some point it has to end.