Article Image
News Link • Economy - Economics USA

US households already went off their fiscal cliff and breached their debt ceiling

Few people realize that the debt ceiling is aligning right on track with the fiscal cliff. Total public outstanding debt is now at $16.369 trillion and is only $63 billion away from breaching the limit. Not a coincidence that the fiscal cliff is also on the horizon. In essence, we are addicted to debt. However US households have been on a multi-year long process of deleveraging yet this is not being asked from banks or governmental institutions.

Join us on our Social Networks:


Share this page with your friends on your favorite social network: