I get that the US government can always print more money or raise taxes rather than defaulting; what if there is a crisis where increasing taxes would overburden citizens to the point where it is possible, and the government overprints to pay off its debts. Wouldn't this essentially be a default, and is not becoming somewhat plausible due to the high amounts of debt we have incurred?
Also if reissuing to refinance the maturing US bonds is the way we pay down our debt, is our current system sustainable in perpetuity?
Submitted March 09, 2018 at 04:16AM by afactory http://ift.tt/2IeYW6T
