The average person will bail out before that. Rather its an armed insurrection or a massive change in government the free lunch is going to end abruptly (Another pet theory of mine but hell, my ability to predict the future is as good as anyone else's—which is to say zip!).
I work for DoD. My installation is Fort Monmouth NJ slated to close and move to Aberdeen Proving Ground in MD under the current BRAC. It is being delayed over political rangling over cost over runs ($ 780M to $ 1.5B) but I predict it will still happen because the MD senators are more senior to the NJ ones. Looking at Bear DE as my new home (on border of DE and MD). Get a 2300 sq ft house on .28 acres with city water/sewage for $ 350K. Property taxes is $ 1200 and DE has no income tax. In NJ I live in a 1400 sq ft house, on a 75 by 110 feet lot and I pay $ 7000 prop tax plus NJ income tax. Due to the NJ shortfall in state worker/teacher healthcare fund, my prop taxes will go up by 12 percent for next year. I told my wife we are going to DE before NJ declares bankruptcy. NJ has been holding up financially due to NJ commuters working in a booming Wall Street in New York City. Despite that, the NJ budget is short $ 5 billion in economicly good times, imagine if we have a recession or slowdown on Wall Street(possible with the subprime crisis).