This idea that debts don't need to paid because they can be rolled over is pretty absurd. It's true that aggregate debt never need go to zero, but all debt has

This idea that debts don't need to paid because they can be rolled over is pretty absurd. It's true that aggregate debt never need go to zero, but all debt has a carrying cost. Current debt expense is $310BN annually for the federal government [1], and likely going higher. A high amount of debt is very dangerous because the carrying costs could easily rise for reasons beyond our control. In fact carry costs were 4.7% merely ten years ago, vs 2.7% today. If high interest rates return, high debt countries are definitely facing a budget squeeze. [1] https://www.thebalance.com/interest-on-the-national-debt-4119024 https://www.thebalance.com/interest-on-the-national-debt-411...