"The global debt crisis is not just about the growing government debt burdens of economies, nor about the financial liquidity crisis plaguing banks. The true debt crisis is much deeper than that. It involves entire economies and societies evolving towards a mind-set in which more and more benefits are expected today – but any costs are either increasingly postponed to the future, or preferably, dumped on others." (Source: Triple Crisis blog)  

Very good short essay by economics professor Ed Barbier on how the "culture of debt" has created our current financial and economic chaos as well as our ecological debt crisis.