> Debt is only a problem if you can't service it. This is doubly true with sovereign debt, where servicing debt provides people a safe place to invest their mon

> Debt is only a problem if you can't service it. This is doubly true with sovereign debt, where servicing debt provides people a safe place to invest their money. > None of what I said is controversial among people who understand economies. I have a degree in economics, so yes, I understand how sovereign debt works. The point is that even if the market never loses faith in the US's ability to pay back its existing debt, if it stops being the most trustworthy source of newly-issued debt, the US loses a great deal of power.