"It'll take a Sovereign Debt Crisis....."

[brooklynite]

My wife was at an event sponsored by the Urban Institute (a non-partisan public policy think tank) on the budget crisis, which featured three former Directors of the CBO. One of them, when asked what it would take for the Congress to come to agreement in the current political atmosphere, said he though it would effectively take a failure (or at the least the strong risk of one) of the US to meet it's debt obligations. Cheery.