Read "The Coming Economic Earthquake" written by Larry Burkett in the mid-80's. He was SPOT ON and predicted this scenario. He figured it would happen around the year 2,000 but then said "the 'when' of it happening is unsure ... however without a drastic return to fiscal responsibility and reduction of debt the fact is that it 'will' happen."
Capitalism: RIP [View article]
A modern day economic prophet.