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Does anyone actually think the USA will ever pay off its debt?
by thret 12y ago
Does anyone actually think the USA will ever pay off its debt?
- gnaritas 12y agoPublic debt is private savings, you don't ever want to pay it off. Debt is to be serviced, not paid off.
- tsotha 12y agoThe way fractional reserve currencies work it's literally impossible for everyone to pay off their debt, and if a substantial portion of people did there would literally be no money. So... no.
- lmm 12y agoIf you're talking about bonds, it came pretty close near the end of the Clinton administration. (If you're considering every dollar as a piece of government debt, which in some sense it is, then probably not).