I understand the fiscal outlook and agree things look grim. But I see another side - I just don't see that the average American will refrain from spending for all that long. Two months ago, my local Home Depot was deserted. Yesterday it was busy. I had to circle around the parking lot (twice!) to find a parking space to get into the Barnes and Noble (for pete's sake - you can get books for free from the library!). The Wal Mart was packed and had long lines. I think the average person is only capable for contracting their spending for so long and then they lose interest and decide they'd rather have that new thing-a-ma-jig. Granted, a guy in the Home Depot was talking about being out of work, but he was still there, spending, spending, spending.