Quote:
Originally Posted by genuinegirly
As long as the rest of the world is slightly less economically-sound? I bet someone else can answer this one better.
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The simple answer is: until interest payments cut too deeply into the budget.
When that happens the simplest options are: 1) cut spending, 2) default on loans, 3) raise taxes.
The second option is bad. It would drive the U.S.'s credit rating down, thus making it difficult to raise more funds for more toys.
The first option usually hurts poor people first.
The third option I think is heresy, or socialism, or unconstitutional or something.