The Phaserl


The Debt Party Is Back: “Somebody Has Clearly Turned the Lights Back On”

by Mac Slavo, SHTFPlan:

This morning we learned that just one day after Congress voted to raise the debt ceiling yet again and relinquish any control it had over the national debt, the U.S. government ran up a record $328 billion dollars in new spending, topping the $17 Trillion mark for the first time since our founding.

With the nation as a whole taking on more debt than it can ever hope to repay, it only makes sense that the private sector would be engaged in the same kind of reckless behavior.

We may be on the cusp of the worst financial and economic crisis in the history of the world, but that is not stopping Americans from taking on record levels of debt.

This is going to end badly. Very badly.

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