The problem is not that we can't repay the debt. The problem is that we are so dependent on increasing our debt with deficit spending. If we inflate our currenc

The problem is not that we can't repay the debt. The problem is that we are so dependent on increasing our debt with deficit spending. If we inflate our currency to get out, then new debt will be at a higher interest rate and so will all debt we roll over into new debt. Then, all of a sudden we are in a spiral of high interest rates. It's like we are hooked on debt, and that's fine as long as it's free and keeps coming. But when the party is over it will be very painful to see that federal spending has to fall by a third overnight.