Opinion: Are we uncontrollably short sighted or critically un-informed?

I got into an interesting debate this week that I would appreciate your opinion on. The argument is that our need for immediate gratification will always trump any future desires, needs, or realities.В  That this type of behavior runs up our credit card bills, and keeps us from saving for things like retirement. More so, that we prefer to be in denial than face the realities of our situation.

The other argument is that we are very short sighted, but that our lack of understanding about the impacts of short-term decisions on our future makes it almost impossible not to be short sighted.  After all, what if you are not? Can’t really see any benefit.

So, what do you think? Are we uncontrollably short sighted or critically un-informed?