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> The primary debt problem in the US, is the public debt of the US Government. This is absolutely false. The US has been in debt it's entire existence. Debt is
by mempko 8y ago
> The primary debt problem in the US, is the public debt of the US Government.
This is absolutely false. The US has been in debt it's entire existence. Debt is a problem for the private sector, not the public sector. Why? Because the debt the US is denominated in dollars, which it has the sole ability to create. Imagine a household with the same power, let's say you "adventured" are able to print "adventure dollars". When you give out these adventure dollars, you run a deficit of X adventure dollars. You are now X dollars in "debt". That's exactly how public debt is measured. It's silly to think the US could not pay any debt denominated in dollars.