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Sooner or later, the US government will inflate the money supply to "pay off" the debt. The only other alternative is for the US to live below its income for decades, paying the difference in taxes to pay down the debt. You think that is going to happen?
Oct 23 01:17 am
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All Comments by Kunst »How Does Deflation Actually Happen? [View article]
The other debts -- Social Security, Medicare, unfunded government pensions -- just compound the problem. National bankruptcy is inevitable. Since our debts are in our own currency, we will just pay them off by creating the necessary money -- poof.
After that, we will be subject to the same rules as everyone else.