This astonishing post from the Brainstorm 2006 Conference just concluded in Aspen:
The USA: future deadbeatIn this morning's breakfast discussion on U.S. indebtedness (where economist David Li also made some interesting remarks), former Goldman Sachs Asia vice chairman Kenneth Courtis offered this rhetorical question:
"When the current administration leaves office, the U.S. will have an external debt of $6.5 trillion," Courtis said. "Is anyone in this room naive enough to believe the U.S. will ever pay that back?"
No one spoke up.
Also some great remarks from Sen. John McCain.