The United States of America’s nation debt clocked 19 Trillion last week.
This decision to continue taking on more debt is analogous to a bankrupt family applying for a new credit card to pay its old “maxed out credit card bills”.
How can a proper credit check on a family with huge debt = F, but the rating of US treasury bonds be always AA+?
My FICO score instructs me to pay off the revolving balance to be in good standing. Shouldn’t the same hold for the national debt. Whoever lent us this money is in for a big haircut or should get ready for a Zimbabwean style pay off.
My share of the national debt as of today is $158,902. Are we planning to pay it off honestly with savings? I am generally a stingy person, but I cannot catch up with this year after year.