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If American defaults on its debt it would absolutely destroy the economy. This is a really weird take
by whamlastxmas 2y ago
If American defaults on its debt it would absolutely destroy the economy. This is a really weird take
- mindslight 2y agoYes, a national default on debt would be a terrible thing. Most American debt is denominated in USD. The US is monetarily sovereign, meaning it can always create more USD at will. This means that the US can only default on its debt voluntarily, which is exactly the type of economic catastrophe that Trump is doing his best to cause.
- shepherdjerred 2y agoI'm not saying the US should default on the debt, just that it never, in practice, actually has to pay it back.