Earlier quoted context omitted.
Your analogy makes no sense. America isn't a person, doesn't have a limited working life, and isn't going to "retire". The solution to an inefficient federal bureaucracy and a large national debt isn't to cut economically irrelevant spending in those areas where the US enjoys an actual advantage over other countries. It's to improve the bureaucracy and balance spending in meaningful ways. Unfortunately, any sane atte…
Calling this a republican problem is being willfully ignorant of the problems in our government structure. We didn’t get $21B in debt cause of republicans, or democrats, but because of congress. Congress directed NASA to spend $20B to build the SLS, a super heavy launch system built by congresses favorite contractors. It won’t be reusable at all, ever launch rocket will be burned up in the atmosphere. Each launch wil…
Economically, this 20 trillion of debt reflects the private sector's desire to save as much as it does the US government's desire to spend.
It is economically damaging to remove treasury instruments as a savings vehicle. We have already seen what happens when the interest rates on them are plunged to zero - asset bubbles popping up all over the place.
There is no theoretical reason why local currency denominated debt instruments cannot keep being issued indefinitely. Only cretinous goldbugs and other people who do not understand how money works try to argue that there's a solvency risk.