Quote:
Originally Posted by retiredguy123
Yes, the debt can be replaced with new debt, as long as the U.S. has a good credit rating. But, at some point, a bad credit rating will prevent the debt from being replaced, or the interest rate will greatly increase, creating even more debt, and eventual economic collapse.
|
You beat me to it.
At some point the govt will either act responsibly or their will be an economic collapse.
Ratio of debt to the GNP keeps getting higher and higher.