Here is a great article from a year ago:
At no time in human history have so many people been able to borrow so much money so quickly with so little accountability. In 50 short years, debt has gone from being a luxury for a few to a convenience for many to an addiction for most to a disease for all. It is a virus that has spread to every aspect of our economy, from a consumer using a credit card to buy a $0.75 candy bar in a vending machine to a government borrowing $17 trillion to keep the lights on.
These data points may correlate to a change, but they will not cause it because people on the street do not make their financial decisions based on any of these things. Most people on the street do not know these things exist much less monitor them.
People make their decisions on what to buy, when to buy it, and how much, if any, to borrow to buy it based on their personal situation, advice from people they trust, and a general cultural attitude to some extent.
It is a good bet the government will not lead in trying to fundamentally change directions economically. It has too much vested in the one we have now, both politically and financially, in that it has made so many of the top party supporters on all sides so much money.
Right now, I would put my money on the generation that has been so heavily involved in driving every cultural shift for the last 50 years, my generation, the Baby Boomers. But this time it will not be because they are looking forward. It will be because they are looking back with regrets and leading by bad example.