Wake up, America. That ticking sound you’re hearing is the American debt time bomb that with each passing day is getting precariously close to detonating and crashing the US economy. Businesses, consumers and especially the federal and state governments have become hooked on red ink as if it were crack cocaine. Two factors have fueled this borrowing binge: an era of low interest rates (that’s coming to an end) and falling real wages thanks to the 15% rise in prices of Bidenflation. Let’s review the borrowing up-escalator that accelerated during COVID but hasn’t subsided. The King Kong of borrowing is...