US Debt Crisis

Economist Arnold Kling has written a long paper on the possibility of the US facing a national debt crisis.

"Guessing the Trigger Point for a U.S. Debt Crisis"

This is the conclusion:

".....it would appear to be quite likely that the United States will experience a debt crisis within the next two decades, unless the path for fiscal policy changes from what is projected by the Congressional Budget Office. However, international capital markets continue to treat U.S. Treasury debt as a fairly safe asset. One way to interpret this phenomenon is that investors
expect the United States to take steps to get its fiscal house in order.

The assumption that the United States will have the political will to stabilize its fiscal position is based more on hope than on recent experience. If the political process continues to enlarge the government’s commitments to spend in the future, investor expectations will change at some point. That change in market perception is likely to be swift and severe."

The key is once the world does not believe the US can sustain its fiscal mishap or is at war with China, the US Empire will fall.