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Originally Posted by alpha phi
I wanted to know what this could mean for us
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The government can always print more money. This act would de-value the currency causing inflation but they can wipeout the debt in an instant.
I don't suggest they do that, but the reason no one cares is because the national debt is in-line with national historical averages.
Personally I think the federal government is too big and needs to reduce spending, simplfy the tax code, and lower tax rates. A system based on a consumption tax would be even better.