From this mornings International Forecaster

The Debt Is Too Great To Be Repaid.

The official national debt is $16 trillion—about $50,000 for every man, woman and child. Technically, that debt might be paid in full, but only after Americans were subjected to at least five years of austerity and Greece-like riots.

However, John Williams (Shadowstats.com) calculates that an honest measure of the national debt may be $85 trillion—about $275,000 for every man, woman and child. That debt can’t ever be paid in full, or even by half. Common sense sez there’s no way to squeeze $275,000 out of each American (over $1 million from the average family of four)—simply because the people don’t have sufficient assets to pay such bills.

If I had to bet, I’d predict that at least 80% (and perhaps 90%) of that debt can’t be paid and therefore won’t be paid. If so, at least 80% of the current value of existing treasury bonds will be repudiated. Those holding US bonds will lose their assets.

The Congressional Budget Office (CBO) has calculated that the entire funded and unfunded national debt is about $202 trillion—about $650,000 for every man, woman and child. If it’s impossible to pay the national debt as calculated by John Williams, it’s doubly impossible to repay the national debt calculated by the CBO—and doubly certain that those holding paper debt-instruments are going to lose their assets.