America’s massive debt will doom us. That’s common wisdom, but wrong.
In Manhattan, a giant clock displays not only the total — almost $23 trillion for now — but your share, ticking up every second. Pundits say it’s trouble. But U.S. debt fears have lurked forever and those troubles are no closer now than decades ago. In some ways, they’re further off.
Here’s how to see that, using tools that show when debt truly becomes problematic.
The $23 trillion total seems jaw-dropping, but says little about what really matters: How readily Uncle Sam can pay the piper.