One thing the article doesnt mention is that there are a lot of very conservative mutual funds and retirement funds that do not allow the purchase of bonds with less than a AAA rating. This alone could cause a rise in interest rates paid on our debt as less and less treasuries would be purchased.


The worst part about this entire spending problem is that too many people still think its a joke. Everyone just assumes that the US can borrow and spend endlessly with no adverse effects on their life. These same people are STILL saying the govt needs to give more people handouts.