With federal debt levels at historic highs and much of it financed short term, and federal spending in massive and chronic deficit, the most likely crisis would be an inability of the US Treasury to sell yet more debt to keep the game going. In essence, there would have to be massive cuts to federal spending and interest rates and inflation would soar. Watch out then for wide scale economic, social, and political disruption.
>> there would have to be massive cuts to federal spending
You say that like it’s a bad thing. :-)
>> ...and interest rates and inflation would soar.
WOO HOO! My T-bills will go to the MOON!!!
(Of course I won’t be able to buy food, or pay my internet bill so’s I can watch the fun. But so what!)