4 ms·
Without a debt ceiling I presume it’s until no one will loan it any further money.
by underseacables 6y ago
Without a debt ceiling I presume it’s until no one will loan it any further money.
- mr_toad 6y agoIf you look at other countries (or individuals) that get into trouble with debt this doesn’t usually happen until it’s much too late.
- epistasis 6y agoWhen you own the money printing press like the US does, you don't have to get other people to loan you money. It's a quirk that we use "debt" in the form of T-bills instead of printing more dollars. The t-bills get used and exchanged like money anyway. They do let the US have some control over the interest rates used in the rest of the economy, so it's not a useless quirk, but it's important to understand that US debt is nothing at all like personal debt, and it's probably defective to use the same word.