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As government seek ever larger amounts of debt to finance more spending, they're embracing huge debt levels in the way a broke consumer might embrace payday loans. In the end, we're left with nothing but a flimsy promise to pay.
Original Article: "Government Debt Is Starting to Look Almost as Sketchy as Payday Loans"
This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.
Malachy McDermott has a degree in economics from University College, Dublin in Ireland.