I know I am a nerd when I find myself constantly scouring the media for news from America about the progress of the debt ceiling bill. I must say I can rarely remember when the US President has had to go on TV 3 times in a week pleading for Congress and the Senate to get together.
What makes the situation all the worse is that now the Republicans and Democrats main point of difference is how much money to make available to the Country in order to make another vote necessary - the Republicans want the whole mess brought back again before the next election.
On the serious matters of deficit reduction they have found ways to cuts a big chunk off the budget.
What I had not realised was the way that the US has not paid a penny for either Iraq or Afghanistan - the $1.2 trillion cost of the wars has been paid for out of tax revenue, but purely by debt. In the future, if the debt crisis continues America is going to be forced in quick order to reduce massively its foreign engagements.
The Whitehouse have a great graphic too of the progress of the debt mountain under past administrations: