Sandwiched between a burger joint and an oyster bar in New York City hangs a daunting image: The National Debt Clock. And that debt number? It just keeps ticking up. How deep in the hole are we? Nearly a hundred percent of gross domestic product. And counting. Today on the show, the federal debt. Is it time to freak out? Or is there nothing to see here?

Fitch cut the federal government's top rating, citing rising deficits and a steady deterioration in governance over the last two decades. The action drew a sharp rebuke from the Biden administration.

The federal government's budget gap widened significantly in the first nine months of the fiscal year, as tax receipts slumped and spending increased.

Treasury Secretary Janet Yellen says unless lawmakers raise the debt ceiling by June 5, the government won't have enough money to pay all of its bills.

Did spending by President Biden and the Democrats rack up the country's debt? Is a default the same as a government shutdown? Here are answers to things people often get wrong about the debt ceiling.

Treasury Secretary Janet Yellen warned lawmakers that unless the debt ceiling is raised soon, the federal government may not have enough money to pay its bills as early as June 1.

Congressional forecasters expect the federal deficit will hit the second largest in decades, even without factoring in President Biden's proposed $1.9 trillion coronavirus relief plan.

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.