The Looming Debt Crisis: What You Need to Know.

America's debt clock is ticking steadily higher, from $3tn when it was inaugurated in 1989 to more than $31tn today. After climbing for so many years with no obvious economic fallout, it is easy to ignore, not least because it was moved from its location on a busy street corner to a quiet passageway. But its relentless climb is suddenly a risk to the global economy. That is because it is now butting up against America’s debt ceiling—a device as manufactured as the clock itself, though which presents a far graver danger.