CBO tells Obama deficit panel that forecast remains bleak

When debt can no longer serviced by internal (almost nonexistent) and external savings, it will be monetized.

In its latest long-term forecast, the nonpartisan Congressional Budget Office predicted that the national debt, which has surged to nearly 60 percent of annual economic output in the wake of the recession, would continue rising in the coming decades despite cost-containment measures in the health overhaul Obama signed this spring.

Source: washingtonpost.com