The Falling Dollar and Questioning Consumption

Some "experts" say that the American people--and their government--consume too much and save too little.  From record household debt that finances a house full of gadgets (and a garage of cars and fuel-thirsty off-road vehicles) to a federal government that spends too much, taxes inefficiently, and borrows too much from foreign central banks, it's not hard to understand the steep decline in the value of dollar over the past year.  Consume, consume, consume.  Spend, spend, spend.  What to do?

Should Americans consume less?  If they consumed less, how would that affect the economy?  Are there better ways to cut consumption and, thus increase savings?  Should we target energy consumption and the vehicles we drive?  Should we buy fewer clothes, smaller homes, less gadgets?  Americans are notoriously overweight; do we consume too much food per capita?

Is it an American's patriotic duty to consume less, so that we borrow less, and thus act to strengthen the dollar?

The value of the dollar is going to hell in a hand basket, and what if anything can be done about it--or should be?  What are the possible consequences of continuing to go down that road?  What might happen if America began to consume less?  Do we need higher interest rates to lessen consumption?  And what about the possible role(s) of inflation?

Is a falling dollar really a bad thing?

Oh, what to do?