When is that debt doomsday that cons always whine about ever going to come?

It is believed by the fall of 2015 some real bad things economically is going to happen. And this isn't coming from either party, it's what our economic anaylists are saying.

no one really knows.

the system is so chaotic that such events can not be predicted closely.

however, as Rogoff and Reinhart showed in their book, there is no nation on earth over the past 500 years which got out of a debt debacle such as the one we're in without significant pain being inflicted on some group. None whatever.

The favorite group to get the shaft is middle class elders -- those who saved and now have claims to money as their asset.

The favorite exit method is severe inflation.

you can read the book for yourself, of course.

It’s not going to be a sudden breakout of anarchy. As national debt increases it puts a drain on the entire economy. When the government borrows from the FED the FED whips out their check book and writes a check, but there is no FED bank account for that check to be drawn from. Essentially they are creating money out of thin air. Instead of printing more cash they are writing money into existence. Out of control Inflation powered by out of control spending is what is slowing our economy.

It's when we hit that point that interest on the debt consumes so much of tax receipts that it simply becomes unrealistic to both pay interest and vital functions of government. That in order to run the government, we must borrow the majority of the money.

And if we keep running deficits of between $500 Billion and $1.5 Billion, as we have been under Obama, that day comes in about 15 to 20 years.

That's the day when lenders will stop buying US bonds because they only way the USA can keep going is to print more money and devalue the currency.

All I know is that I have to pay all my bills..?

Social Security is on track to be bankrupt by 2033. That's my date.

Just before we all die from global warming!

So 17 trillion and counting is not a problem? When its 25 trillion will it still not matter?

We can be sure it will happen while a democrat is president. You know, since deficits don't matter when the GOP is in charge.

The same time as America just becomes socialist. About 24 hours after the Rapture. or Never