In case nobody noticed, the country has been run on a vast array of debt instruments for quite awhile now.
It is our common concession to the imperfectability of humans that we can all have a little more than we deserve, a little sooner than we can afford it, perhaps even a lot more of what we could never, ever have afforded.
National debt, consumer debt, credit card debt, savings and loan debt, hedge-fund debt, mortgages, home-improvement loans and industrial revenue bonds. What ever happened to layaway?