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The US could pay its debt tomorrow, in full. We'd like to avoid that shock, if possible, but there's nothing uncreditworthy about running a fiscal deficit. US
by kristjansson 2y ago
The US could pay its debt tomorrow, in full. We'd like to avoid that shock, if possible, but there's nothing uncreditworthy about running a fiscal deficit.
USG revenue/spending should be reasoned about in terms of the resources it directs, and the resulting effects on US and world GDP. Everything else is just accounting.
- bdangubic 2y agoit could if it borrowed money from china /s
- bad_haircut72 2y agoInterest on debt is the second biggest line item in the budget (said someone else in this thread)
- caspper69 2y agoIt is #4. Social Security, Medicare/Medicaid, and defense are larger. https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/ https://fiscaldata.treasury.gov/americas-finance-guide/feder...
- piperswe 2y agoTreasury bonds are non-callable, so a substantial portion of US debt can not be paid back early.