Whats in your wallet?
Check out how our government is doing. This is just not a matter of will the economy fail, it’s a matter of when. Taking a page out of the Visa card book, the government just ups their own credit limit.
WASHINGTON – The United States just passed a dubious milestone: Government debt surged to an all-time high, topping $14 trillion — $45,300 for each and everyone in the country.
That means Congress soon will have to lift the legal debt limit to give the nearly maxed-out government an even higher credit limit or dramatically cut spending to stay within the current cap. Either way, a fight is ahead on Capitol Hill, inflamed by the passions of tea party activists and deficit hawks. Read more