The 20th century has been dubbed the "American Century," the connotation being that was our moment in time.

Maybe what we are seeing instead is the end of Reagan era: free-wheeling capitalism, sky-high CEO salaries and bonuses, mergers, and leveraged buyouts.

A 12 to 20 percent annual profit wasn't enough. Shareholders wanted 30 and 40 percent growth or you were out and another CEO would take your place.

Now we have Congress dithering about what to do in the face of the financial crisis. Many of them don't understand it.

Should we regulate? Should we wait and do nothing?

The immediate problem is the housing market and deregulation that has allowed banks to buy "packages" of bad mortgages. There are so many mortgages in these packages that no one knows how bad they are.

But the housing market is only part of it. A systemic weakening of the economy is the looming problem. Most of us are seeing our standard of living erode.

It now takes two incomes in this country to run a household.

Maybe now lawmakers understand why millions of Americans don't have health insurance: they can't afford it.

That should have been a clue: the canary in the coal mine.

You can work hard and still not afford health care. You can also have a good job that qualified you for a mortgage, and lose your job the next day.

How long would your savings last if you suddenly lost your job and couldn't get another at your current salary? Most people would be in default on a mortgage or a car loan in a matter of six months.

Yet, thousands and thousands of decent paying jobs have gone abroad so CEO's could please shareholders.

Congress has cheered, rewarded corporations with tax breaks, and even restructured the bankruptcy laws to penalize everyday people and protect the banks,

We may not go back to the days of the New Deal, but let's pray that Reaganomics is gone for good.