It boggles my mind how far in debt the US is. It is even more staggering to realize the downward spiral is accelerating. It doesn’t look like tax revenues will increase to reduce the deficit. I surely don’t see enough spending cuts to balance our national budget. Good grief … all the politicians talk about is “reducing the deficit”. That’s like you and me talking about spending $5000/month more than we make instead of $8000/month more than we make. We are still going further under water every month. No talk at all about actually having a positive cash flow as a country or paying everybody back.
Sooner or later there is likely to be a huge financial “reboot” for the US dollar. Probably sooner. I don’t know anyone who actually thinks we will pay our debts.
Manage your portfolio risk accordingly. Do not be a big bond holder.