It means that there is a point where the government can no longer borrow any more money to finance deficit spending. With the various bailouts, that time is coming fast. If we try to bail out everybody, the time of reckoning will arrive in 2009.
So interest rates on government borrowing ought to be getting higher?
And if “we” decide not to bail everyone out, the time of reckoning may be postponed, but 2016 is when the baby boomers start retiring en masse and stop paying into the system. I think that year is the tipping point.