We'll end up paying more in interest payments than we can generate in taxes and still provide basic government services.
I don't have historical numbers handy, but I believe the % of our budget spent on interest hit 20% in the late 80s or early 90s. Last time I looked, we were spending about 28% of the budget on interest.
I'll bet that when that number is somewhere between 33% and 50%, people will stop lending to us and the economy will collapse. If somehow people do keep lending to us, I think we *might* be able to hold out until 66%.
Given that this is going to be exponential, this is pretty much guaranteed to happen in my lifetime.
Happy Thanksgiving! Enjoy it while you can!