A Moment of Clarity ...

"One way to look at the US economy is this. We have 14.5 trillion on a credit card with a low introductory rate of 2.9%, good indefinitely. If we are late with even one payment, the interest rate adjusts to the default rate of 29%. And politicians are actually arguing that we should skip a payment and take the penalty, to demonstrate their regret for having run up the balance in the first place."

Thanks to Scott McCaulay of Indiana University.