(March 18, 2016 at 2:22 am)Thumpalumpacus Wrote: The debt is essentially meaningless. The dollar is a fiat currency. If we wanted to liquidate the debt tomorrow, we could.
It is, after all, what the Germans did in the hyperinflation of 1923 -- liquidate debt by devaluing currency.
I agree. The politicians run up the debt so that they can boast about not raising taxes. When they do a tax cut it means that they will never reduce the debt because there's no money to pay off the balance. The larger the debt grows the less likelihood it will ever get paid off. The end game is that at some point the debt will be declared null and void and we will start over with new money.
