Hi Phil, I see the USA headed in that direction but I don't think it will happen in the next year or two. After all... look how long Greece has been over the financial cliff and they are still hanging on. Surely America can hang on much, much longer. The rest of the world can't afford America to default on it's debt.

Besides... much of that debt is owned by America... nothing that a few slick politicians, lawyers and fuzzy accountants can't doctor up for another decade or two.

The economy may even rebound a little... at least for a while... I hope.

Cheers,
Steve