Quote:
Originally Posted by kane
Yep, if they want to do away with the debt they have to either increase the amount they bring in or cut the amount that they spend. Since every president for the last 80 years has had a bigger budget than the president before him I don't see an end to the spending anytime in the near future. Which means they will either have to increase taxes or just let the debt continue.
Realistically we can sustain the debt forever, unless those that we owe demand payment and when they don't get it they decide to stop investing in the country. Technically we could just keep printing money to pay out bills, but if other countries stop covering our debt then the value of our currency will continue to drop and soon it could turn pretty ugly.
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Printing money will eventually mean that the money becomes worthless and to continue to borrow money is not sustainable as the interest is currently something like the 3rd or 4th largest expenditure the government has.
I am sorry to think it...but I think the future of the U.S will not be as bright as its past.