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They are. Interest must be paid and that money could fund so much. Lowering your debit is important.

• PaulDavisThe1st 3y ago
  The USA seems quite happy to spend freely on anything it (i.e. the current federal government) deems worthy of a few billion dollars. Wars, in particular, are spending goals that come with few, if anym limits. I see little evidence that interest payments on the debt prevent funding particular programs - that is a political decision that for better or worse exists outside the realities of federal tax revenues.
  • somenameforme 3y ago
    The way the government 'prints money' is by issuing treasuries - give me $100 today and I'll give you $105 next year or whatever. The rates required to issue those treasuries, and the publics acceptance of such, is going to be a reflection of the perceived strength of your economy. US 30 year rates, which reflect long-term perceptions on the strength of an economy, are at highs not seen since the housing market crash. [1] When it becomes impossible for the government to print money without major consequences, it doesn't mean it's time to start cutting back on spending, rather at that point the entire economy would likely collapse in on itself in relatively short order. One can see economic issues coming from far away, but when they strike - the final collapse is often lightning quick. Again, see the housing market crash for an obvious example of such. There's also some interesting parallels and lessons one can take away from the Mexican peso crash, which was largely about 'creditors' losing faith in a currency. [2] [1] - https://tradingeconomics.com/usgg30y:ind https://tradingeconomics.com/usgg30y:ind [2] - https://en.wikipedia.org/wiki/Mexican_peso_crisis https://en.wikipedia.org/wiki/Mexican_peso_crisis