Yesterday, the new Credit Card Accountability Responsibility and Disclosure act went into effect—but not without controversy. And tonight on The Daily Show, Jon Stewart brilliantly laid out both what's wrong with American consumers and with credit card companies.

The Daily Show With Jon StewartMon - Thurs 11p / 10c
Click to view
Daily Show
Full Episodes
Political HumorHealth Care Reform

With his hilarious—and eerily accurate—rant, Stewart managed to do what many others have failed at: explaining how the country's credit problem is exacerbated by the actions of those on both sides of the spectrum.

Stewart first explained that the problem with American consumers is that they not only desire a Champagne lifestyle on a Busch Light budget, but will take any opportunity to act on that appetite—even when painfully aware of the consequences of doing so. If you let them, they will spend, whether they have the money or not.

After his evisceration (sorry, had to) of consumers, Stewart took aim at the banks, hilariously describing the tricks they've used to historically bilk their customers out of as much extra money as possible, before even more hilariously highlighting some new tactics that were born from a theoretical leash imposed by the government with the newly-enforceable regulations on their business practices.

I'd say more, but the screen on my laptop is fading and I need to make sure I'm the first one to arrive at the Apple Store tomorrow to purchase a new one—just as long as my rate limit gets approved. Fingers crossed!

[The Daily Show]