Well, lets say you love art and get a business degree. How happy would you be making a good living but at the same time listening to mindless suits who love to hear themselves talk in boring ass meetings 9 HOURS A DAY.

Doing what truly interests you and being poor isn't a bad place to be IMO and this being the worse case scenario since CS folks usually do well financially.

If you enjoy technology/programming, you most likely will never be homeless if you get a CS degree. The "Good" employers see passion in potential employees and usually want these type of people.

This is a great concern to have - and I agree with you. You should major in something you like that also has good job potential. If the thing you absolutely love (like art history) doesn't have good job potential, settle for something that you like that does. You can always study art history as a hobby.

The education industry has fooled a lot of people into thinking you should pay a University gobs of money to study "something you love." You're only in college about 4 years. The rest of your life will hopefully be much longer than that. You're paying the university for a degree that is supposed to help you get a job, nothing more. If philosophy or art history is your passion, buy some books and study it on your own time - that's free. You don't need to pay a university to pursue your passions.

All of that being said, I think it's still a great time to pursue a CS degree. More people are going into it, but there's also been an explosion of tech startups, and tech companies in general will continue to grow.

Don't worry about the job market. The only concern about the market you could have is jobs disappearing dot-com bust style, and I don't think that's likely.

It seems you are worried about undergrads flooding the market when they graduate. I wouldn't be worried. Assuming that the higher enrollments are people that smell money, its very easy for interviewers to filter that chaff. You can ask a simple question like "What's your favorite programming language and why?" and expect a reasonable response. Bandwagoners without a passion for the subject won't have a good answer. If you aren't sure, you can follow it up with "What's your favorite programming language that you weren't taught in class?"

Bandwagoners are amazingly easy to spot. I used to work in a company full of them. I resigned.