Nobel economist Paul Krugman says we're not in a debt crisis, but the US could still be facing a lot of economic problems in a few years

• The US isn't in a debt crisis, but it'll soon be facing the problem of its $31 trillion debt, Paul Krugman said.
• The debt was taken on to prop up the economy in tough times, and was often needed to avoid a severe recession.
• But the economy could have "a lot" of problems if tries to pay off that balance in a low-interest rate environment, he warned.

The US not in a debt crisis, but the country could still be facing a lot of economic problems when it tries to pay off the huge amount of debt its accumulated over the years, according to top economist Paul Krugman.