“fiscal train wreck”

Nouriel Roubini is predicting a “fiscal train wreck” in the U.S.

“The risk…is that something on the fiscal side will snap…The trigger could be a debt rollover crisis in a major U.S. state government,” he wrote.

I would guess he’s alluding to California, where every trend seems to begin, and which is obviously a sufficiently large economy to drag the country down with it.