[nobodyspecial]

#1 education. It's your duty as a parent (if you are) to teach your kids to live below their means, AND demonstrate by your own actions that it's the right thing to do. This would cause a lot of problems as our society recalibrates their thinking, but it's the only long-term solution that is reasonable (imho). #2 quit pushing liar-loans, limit the amount of interest that can be charged on credit-cards to 8-10%. Sure, that would limit the available credit, but so what - it would help insure we, as a people, stay solvent.

Another thing to remember - all of this credit just inflates the dollar cost of all goods and services - credit card companies get their cut, and the credit is created out of thin air (oversimplification, but it's based on a bank's reserves).