"Once we cross the 100% mark, we will join Italy, Japan, Greece, and Ireland as some of the world’s most profligate governments—putting the prosperity of the future in jeopardy in the process."

The Looming Threat of National Debt

As the United States hurtles closer to the 100% debt to GDP mark—95.5% as of today—it becomes important to assess whether unsustainable national debt will be a chronic problem to plague the United States for generations to come. Even as Congress goes through the uniquely American tradition of grandstanding before consenting to raise the statutory debt limit, is there ever any real question that the debt limit will once again be raised?

Once we cross the 100% mark, we will join Italy, Japan, Greece, and Ireland as some of the world’s most profligate governments—putting the prosperity of the future in jeopardy in the process.

Read more:
http://wealthcycles.com/blog/2011/01/12/the-national-debt-tightens-around-the-united-states