pigdog67

Opposing Views of Economic Imperatives

For a country to pay off debt it needs a way to generate 'exportable' income. The USA has 'healthcare', 'education' and 'government, state and federal' as its primary industries. In Michigan the largest employer is the University of Michigan. In Minnesota the largest employer is the Mayo Clinic. It is hard to export there products.
So America will need to default on its debt. That will kill any chance of future borrowing .So how will we pay for education, government and healthcare then.
Big changes are coming with enormous layoffs from our 3 industries. That means about 50% unemployment in this country.