According to the Congressional Budget Office, annual debt payments — currently about $200 billion — are set to skyrocket. CBO estimates that interest payments on the federal debt will total $916 billion by the year 2020. Jewel Samad/AFP/Getty Images hide caption

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A merchant in Delhi offers a ledger book used to track pay for government employees. David Kestenbaum/NPR hide caption

itoggle caption David Kestenbaum/NPR

The 1919 Sanford Memorial at Saratoga was the only race the legendary thoroughbred Man O'War (No. 1) didn't finish first. He was beaten by the aptly named Upset (No. 4). AP hide caption

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European Central Bank President Jean-Claude Trichet listens at the press conference Wednesday. The European Central Bank is "not an emergency fund or a crisis manager," says Domenico Lombardi of Brookings. Markus Schreiber/AP hide caption

itoggle caption Markus Schreiber/AP