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A character in Ernest Hemingway’s first novel, “The Sun Also Rises,” explains how he went bankrupt: “Gradually and then suddenly.” Americans who have fallen deep into credit card debt or had to rely on high-interest, payday loans probably can relate.

If the federal government keeps going with the flow, we’re in for a painful plunge in the form of a catastrophic debt or financial crisis.

A character in Ernest Hemingway’s first novel, “The Sun Also Rises,” explains how he went bankrupt: “Gradually and then suddenly.”