by Michael Snyder
The Economic Collapse Blog
When you spend 30 trillion dollars that you do not have, it is easy to create an illusion of prosperity. In 1995, the nation was obsessed with the O.J. Simpson trial, “Toy Story” was the biggest movie of the year, the Sony Playstation made its debut in the United States, and Bill Clinton was in the White House. At that time, the U.S. national debt was right on the verge of crossing the 5 trillion dollar mark. Today, the U.S. national debt is sitting at 36.2 trillion dollars. That means that we have added more than 30 trillion dollars to the national debt in just 30 years.
[…] So what did we get for 30 trillion dollars?
We got the greatest party in the history of the world.
Over the past three decades, we have been enjoying an obscenely inflated standard of living that we did not deserve.