The government, shareholders of government and buyers of government goods are the same people. Slate worries that there is a split between the old and young, the old will want to live on government bond interest, and the young might refuse to pay.
What is the worst that can happen? Fist fights between parents and children? Making the parent sleep in the spare bedroom?
Other News:
In Iceland, 80% of the defaulted debt was banker obligation. 20% borrowed by individual Icelanders would come to about $20,000 per capita, probably a blip compared to Euro tax evasion. The 80% internal to external bank default was a separate channel, a channel of idiot bankers. That wasn't a default, that was bankers sorting out errors among themselves.
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