At some point the markets will say,

"I'm sorry, we just don't want to buy any more US government bonds. You can't raise enough taxes to pay the interest, and if you create the money to pay the interest, we will have hyperinflation."

We can argue all we want about whether the problems is not enough revenue, or too much spending. The problem is, we spend more than we take in. By a trillion dollars a year! That is unsustainable. And if we don't do something about it, we will have a disaster of epic proportions. When 20 or by then 30 trillion dollars of US government obligations become worthless, the world economy will collapse and we will have the worst depression of all time.

Politicians can argue all they want about who or what is to blame, but I don't see anything being done about it.

---