I do not want us (the USA) to default on our financial obligations – but I do wonder how many more times we can keep raising the debt ceiling, and borrowing more money before we implode.
I remember my first credit card in college — AMOCO — and AMOCO would only give me a $1000 limit. There was a reason for the limit. AMOCO feared me getting so deep in debt that I could not pay even the interest on the card. At some point, you do implode. You owe so much and you can’t even pay the interest on the debt.
Has anyone stopped to figure out what our nation’s breaking point is? (I hope we have no already reached it!)