Last week when the space shuttle touched down for the last time it was was a bit like watching a sporting legend admit that they just weren't as good as they used to be. To add insult to injury this week The U.S lost it's perfect credit rating for the first time in history.
To me this looks worse than the recession of the 1930's as there is no great salvation on the horizon that can solve the economies problems overnight but America has always proven itself as a great innovator over the last century.
Anyhow to understand just how big the problem is make sure your students see the US Debt clock. If nothing else it will put the reality of the situation via real time rundown of the financial state of affairs and how. This is a great talking point for students and teachers about how economies function, fail and succeed. Take a look at it here.