The American Economy we are screwed!

I feel that the economy hasno real positive situations in the near future. Has the actions of the actions of Bernie Madoff been going on for year and we are just starting to see it now? Perhaps thier are people wjo did his type of criminal acts on an grander or smaller scale and hot away with it. I am currently taking my first economjics class and I feel that as i ask questions about the course content I also ask questions about the current rrecession that Americs is going through. In the back of my mind though I am really asking my Professor " How screwed are we". Questions tend to come up in my mind like am I going to find a job in the barren jon market ? Am I going to be able to pay back my student loans? I mean I dont want to but I am a stand up gut so I i guess i will. Not being a Economics schlolar I am fearful that i will not have a sound fisical future. I hope i am wrong, becuase i take little to no comfort in the old saying that money doesn't buy happines.