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>> It consumes more than it produces One of the things the US produces with it's huge military spending is stability. The way the rest of the world pays for th
by asmithmd1 8y ago
>> It consumes more than it produces
One of the things the US produces with it's huge military spending is stability. The way the rest of the world pays for that stability is through buying T bills that pay <2% Every empire throughout history has demanded taxes from client countries, the way the US collects those taxes might be unique. All that is a long way of saying: don't worry about all that debt, it will never be paid back.
- stretchwithme 8y agoTHere's a big difference being paying a tax and lending somebody money. And an even bigger difference between having cash in the bank and being unable to borrow.