U.S. debt is now equal to economy

WASHINGTON – The soaring national debt has reached a symbolic tipping point: It's now as big as the entire U.S. economy.

China Scolds U.S. for Politicizing the 'Dangerous' Debt Talks

China's state-controlled media agency Xinhua published a scathing editorial on the U.S. debt talks, illuminating the nation's fear that American default will hurt the global economy.

The newspaper criticized lawmakers in the United States for stalling and letting politics stand before its economic future, calling the talks "dangerously irresponsible" and a "game of chicken."

Once the Debt Ceiling Is Hiked, Markets Have to Confront Slower Growth

The woes besetting the global equity markets will remain after the contrived crisis over the U.S. debt ceiling is settled.

Global economic growth is slowing, as indicated by the slide in stock prices from Sydney and Shanghai to European bourses and back to New York. Industrial companies are corroborating the message of economic data that the much hoped-for second-half economic rebound will fall short of the hype.