Our debt woes may be getting worse. Zero Hedge points out:

as of December 31, 2012, the soaring delinquency rate on student loans (first reported here, and subsequently confirmed by the Fed itself), has surpassed that of credit card debt.

Also, there are indications that a “second housing bubble is in full force in California and Nevada.”

These developments are threatening to the economy, of course, but for now, the political class is more interested in threats of another sort.

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