The following is a 3 message exchange between 4 users
Let's keep it simple. The interest on the US govt debt is fast approaching one trillion dollars, more than defense, roughly 5% of GDP and there are no viable ways of not only paying it off, but stopping it from exploding even higher, other than default, massive devaluation of the dollar, and loss of reserve currency status. Depression-like conditions follow. On the bright side, US becomes a manufacturing/exporting superpower again.
You forgot higher taxes. The good faith and credit of the USA is its taxpayers.
@Patriot-#1776Constitution3mos3MO
It's not "taxpayers" so much as "tax victims". We (or at least I) are/am not paying taxes VOLUNTARILY, but because we are compelled through brute force and the threat of guns, chains, and imprisonment do allow the government to plunder our money. Taxation is theft.
