Naw. That will not happen for quite a while if it ever happens. We are not even close. Obama added $10T and we are not close to that point.
One thing to look for is rising interest rates & impact on interest on the debt that starts sucking up most of the budget. Obama has enjoyed interest rates near zero. Now the fed has started raising rates. as the rates go up, feds will raise more taxes, print more money and reduce benefits. That process will go on a while. No dramatic bankruptcy. Just slow death with mass riots of the entitled masses bitching when the checks stop coming.
“”One thing to look for is rising interest rates & impact on interest on the debt that starts sucking up most of the budget. Obama has enjoyed interest rates near zero. Now the fed has started raising rates. as the rates go up, feds will raise more taxes, print more money and reduce benefits. That process will go on a while. No dramatic bankruptcy. Just slow death with mass riots of the entitled masses bitching when the checks stop coming.”””
Which is exactly the plan so they can blame it all on the next president.