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Finally, U.S. debt load raises red flags

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By Caroline Baum

Bloomberg News

NEW YORK - What went wrong? The U.S. economy seemed to have finally reached a cruising altitude, albeit a low one, almost three years after the end of the 2007-2009 recession. Growth was hardly strong at 2 percent, and monthly payroll increases of 250,000 during the winter were nothing to get excited about. Still, the idea that the U.S. economy might finally be able to walk on its own got tripped up by anemic job growth of 69,000 in May.

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