I bet the "average" person still has his cable, internet and budweiser. Average Joe for the most part chooses not to save IMO, because he has different priorities and saving for the future isn't one of them.

Where is the talk of Fannie mae's CEO, Dick Fuld, running the company into the toilet and being held accountable like Ebbers, Lay, et al? Where's Chris Dodd chair of the Senate Banking Committee in all of this? No doubt enjoying his Countrywide sweetheart deal. Where are Hillary Clinton, Obama, Kerry, and Dodd in all of this, remarkably silent since they were the top four recipients of Fannie and Freddie campaign contributions from 1988 to 2008. Published in February 2004, Dodd can find on Page 82 of the budget's Analytical Perspectives these words, Fannie, Freddie and other GSEs "are highly leveraged, holding much less capital in relation to their assets than similarly sized financial institutions. . . . A misjudgment or unexpected economic event could quickly deplete this capital, potentially making it difficult for a GSE to meet its debt obligations. Given the very large size of each enterprise, even a small mistake by a GSE could have consequences throughout the economy." But the Fannie 4 repeatedly blocked attempts at beefing up regulation of these agencies. Listen to the silence and follow the money.