America is in a bad recession. Trillions of dollars have already been dedicated to try to pull us out. Whether or not these measures work is really anyone’s projection, theory, or guess. But what is clear is that it’s being paid with money we don’t currently have. And though some don’t want to admit it, pay-go rules will be forced on the American public at least some time in the future. The tax man will come calling when global creditors aren’t willing to grant more IOU’s.

Not surprisingly, there’s been a furor over these massive new spending projects. People hit hard by the recession are aghast at the idea of having new taxes pried from their pocket. And politicians, regardless of their motivation, have siezed on the issue.

Their rallying cry? Essentially, all of this new spending will cripple future generations and that Americans should keep more of their own money instead of having it taxed out of them. Why do they believe this is the answer for a solid American future? They say it’s because no one can make better financial decisions than the average American family.

Arguing that Americans are the best stewards of GDP is politically popular. But the question that seems to be out of bounds in news cycles is...are Americans really that good with their own money?

Take a look at some of the aspects of this deep recession. Default rates for home loans have skyrocketed. Foreclosure rates have also reached dizzying highs. Credit card debt has reached crippling levels. In the years running up to the recession, household savings rates dropped precipitously. However you slice it, Americans are more mired in debt now that at any point in decades. I’m not an economist, but debt trouble seems to be indicative of spending on what you can’t afford. Clearly debt is made worse by higher prices and tighter credit, but that begs another question. Why did Americans gamble so much on times staying so good? And if given more of their money to spend on what they choose, can they make “better” choices in the future?

I’m not arguing that Americans should have all of their paycheck siphoned away because of bad choices. I’m not arguing that government can better spend revenue from earnings, capital gains, or inheritances. But I am suggesting that the American taxpayer isn’t the financially-savvy, super-responsible pillar of economic stability and prudence that many are alleging.

My point is that generalizations are poisonous to debate. Alleging that all Americans are good with money is just as spurious as saying that all government doesn’t work. For every imprudent person, there’s a thrifty person. For every good government, there’s a bad government. But what this crisis should reveal is that a lot of people in this country, regardless of income or occupation, are terrible with money. And if that is not acknowledged, I fear we’ll all be in this rotten situation again not so far down the road.