The US government is on pace to go so deep into debt that the solvency of the whole operation might one day come into question (unless the dollar tanks and the existing holders of Treasury bonds find themselves holding more worthless paper....hmmmm....).
Where might this all lead?
Today the earth has a real-time example of a first world country that's become entirely insolvent. Let's watch what happens with Iceland and see what might be in store for America some day.
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