Technically, it is okay to kick the can down the road so long as there is inflation. Eventually the debt will inflate to nothing. Of course, this is abhorrent fiscal policy and acts as a hidden tax and gets those with relationships to the treasury richer. But it's been the strategy since before Nixon formally moved the dollar from the gold standard.
I'd consider everything else he's dealing with to be more immediate. Worst comes to worst, they start a war so they can print money.
Technically, it is okay to kick the can down the road so long as there is inflation. Eventually the debt will inflate to nothing. Of course, this is abhorrent fiscal policy and acts as a hidden tax and gets those with relationships to the treasury richer. But it's been the strategy since before Nixon formally moved the dollar from the gold standard.
I'd consider everything else he's dealing with to be more immediate. Worst comes to worst, they start a war so they can print money.
that debt is a ticking time bomb. as much as I despised obongo...the debt fell yearly after his first year.
We are at historically good times economically and our debt is growing at an unprecedented rate. THIS SHOULD NOT HAPPEN!
Fear the future