How Soon?

(click on graph to enlarge)

Read this post and related links at Fabius Maximus and ponder its central point:

What happens in 2010 and 2011 when the Treasury debt then due (i.e., the red lines at the left of the graph above) cannot be refinanced, due to a lack of willing buyers, unpalatable terms (e.g., greater than market interest rates, etc.), or both?

Zippy the Pinhead knows the answer: