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Originally Posted by tophcfa
That might sound like a great idea, but in reality it is called defaulting on debt. If the USA defaults on its debt obligations then how would it fund it’s massive budget defects?
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The idea though - not the implementation, seems like it could be negotiated. The US puts some of the burden on China for the expenses incurred regarding the spread of the virus. We get China to accept at least some responsibility for it. We agree on a value of that responsibility. We then deduct that value from what we owe them.
That will at least slow down the increase of our own country's deficit. It won't bring us to a zero balance. But it might give us some breathing room to come up with other ways of catching up.