I think the US will know its reached the limit when foreigners stop buying its bonds and furthermore when foreigners stop accepting contracts in US denominated payouts. At this point the US will cease to occupy its pre eminent position.
Arthur From: [email protected] [mailto:[email protected]] On Behalf Of Ray Harrell Sent: Tuesday, January 01, 2013 1:20 AM To: RE-DESIGNING WORK, INCOME DISTRIBUTION, EDUCATION Subject: [Futurework] Debt limit What do you think? http://www.huffingtonpost.com/2012/12/31/debt-limit-reached_n_2390166.html REH
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