There is no fool-proof mechanism for determining if and when a fiscal crisis will occur. But all else being equal, Madden writes, the larger a government's debt, the greater the risk.
A year before coal giant Blackjewel filed for bankruptcy, a Gillette couple says the company’s failure to pay its bills wrecked their cleaning business.
The Pentagon mistakenly paid overseas civilian workers housing allowance and now they’re on the hook for the supposed debt.
Former Sen. Alan Simpson said his work on a federal budget deficit panel has changed the national debate on the issue, and is likely to find backers in Congress as the result of a 'tectonic shift' in Washington, D.C. politics.