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Has the U.S. reached the point of no return?

By some estimates, total U.S. public debt, including unfunded liabilities such as Social Security, Medicare, etc. is between $80 and $100 trillion.  Even at a meager 1% interest rate, annual interest payment is close to $1 trillion.  The 2008 U.S. GDP was about $14 trillion.  So suppose average tax rate is 25%, tax revenue amounts to $3.5 trillion.  In other words, at 1% annual interest rate, nearly 30% of our tax will go to service interest alone.  This does not include principal payment!  If, like home mortgages, we amortize the national debt over 30 years, the annual debt service is $3.86 trillion, or about 110% of tax revenue!  If we stretch out the amortization period to 50 years, annual debt service comes to $2.54 trillion, still almost 75% of tax revenue!  If the U.S. is a corporation, its debt would already be rated junk.  And still the government is piling on more debt.  Is there a way out of this other than higher taxes and debasing the dollar?