Nearly 50 years of government living beyond its means has brought us to a time of reckoning.

CNN: State of the Union Address

Yet he was there when the time of reckoning arrived, when the world needed someone to come through.

CNN: Commentary: Heroes in lab coats

Nor may the time of reckoning be far off.

ECONOMIST: America��s new i-word

Well, that day of reckoning has arrived, and the time to take charge of our future is here.

NPR: Obama's Address To Congress

Record Oil Price: A Ways to Go, But Time to Get There originally appeared in the Daily Reckoning.

FORBES: Record Oil Prices: A Ways To Go, But Time To Get There

Despite all this gloom there are reasons why Japan's day of reckoning could be put off for quite some time.

FORBES: Global Gambits

Vladimir Weiss came on for the final seconds of regulation time and, after the match moved into extra-time, the winger played a big part in the final reckoning.

BBC: Celtic 1-2 Rangers (aet)

The extension bill only postpones the day of reckoning by two weeks, to 18 March, with Democrats claiming that is not enough time to reach an agreement over the budget.

BBC: Congress delays US government shutdown over budget cuts

Every time it looks as if the government might push for British entry, the pound weakens, with currency traders reckoning that a decision to go in would prompt the government actively to try to depress the pound's value ahead of entry.

ECONOMIST: Further to fall? | The