During the 3rd and 4th quarters of 2010 TD Ameritrade surveyed 1,088 individuals to find out what, if anything, they would have done differently in the time prior to the recession of 2008-2009. In retrospect 65% said they would have lived within their means.

Implicitly 35% said, “What the heck? It’s a terrible idea to live beyond my means and knowing that an economic downturn is a’comin’ ain’t gonna change me no how.”

Did we administer tough love? Did we give people the kick in the pants so sorely needed? Nope. We gave ‘em Cash for Clunkers, the Making Work Pay tax credit, credits for first-time homebuyers, extended unemployment benefits and program after program designed to ensure that the welfare state destroys personal responsibility.