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The day after Mardi Gras. Mardi Gras is celebrated as the last day before Ash Wednesday, or the start of Lent for the Christian religion. For people between the ages of 16 and 25, its where you get shithoused in the middle of the week.
Crash wednesday is the day dedicated to your hangover.

Christians celebrate Ash Wednesday.
The rest celebrate Crash Wednesday.
by Cale Williams February 24, 2009