Selling the USA

The United States has had to issue three and a quarter trillion in additional treasury obligations in the current fiscal year and will be issuing the same amount of new debt in the next fiscal year. Naturally, that debt pays interest, or no one would be buying it. Russia, Brazil and China have notified the Treasury that they are now diversifying, which is a polite way of stating they don't wish to purchase many more debt obligations of the United States. US domestic purchasers, the citizens of the United States, are unable to purchase debt as they are leveraged out. Americans already owe more than one third of what they can make: the ratio of personal debt to personal disposable income for an average American is one-hundred-and-thirty-three percent of income. The average American is broke; so he or she shall not be purchasing any US government bonds. A government has two ways to secure the income necessary to continue its day-to-day duties: it can sell its debt and it can collect taxes. Of course, in order to collect tax, there must exist some income from which collection can come and there isn't. If the main buyers of government debt decide not to buy any more (Russia, Brazil and China); that source of income is also lost. There is always a third way to secure income of course: Sale of public assets, like land and rights that can be readily disposed. This appears to be the only viable option remaining to the government.