As debt talks break down, clock ticks toward crisis

Townhall Staff | Jun 24, 2011

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The breakdown of talks between the White House and congressional Republicans has intensified worries about the financial bomb known as the national debt. Without serious budget reforms, that bomb will almost certainly explode — with widespread collateral damage to the U.S. economy and the global financial system.

But no one can say for certain just when the bomb will go off. The fuse may be longer than many people assume.