U.S. Debt Shock May Hit In 2018, Maybe As Soon As 2013: Moody's
Spiraling debt is Uncle Sam's shock collar, and its jolt may await like an invisible pet fence.
"Nobody knows when you bump up against the limit, but you know when it happens it will really hurt," said fiscal watchdog Maya MacGuineas of the Committee for a Responsible Federal Budget.
The great uncertainty about how much debt is too much has tended to make fiscal discipline seem less urgent, rather than more. There is no obvious threshold beyond which investors will demand higher real yields for holding U.S. debt. Vague warnings from ratings agencies about the loss of America's 'AAA' status haven't added much clarity — until recently.
http://www.investors.com/NewsAndAnalysis/Article.aspx?id=532490
Kliphnote: Obama and the Democrats will not take the blame for it, watch and see.
PS. I called this and it came true:
"PS. I also bet that Obama will NOT pick for the SCOTUS, a white, heterosexual, male.
Purposely not pick one.
Even if he was the most qualified."
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