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[quote=Anonymous][quote=Anonymous]First, deficits could be solved by higher, rather than lower, taxes on the very wealthy, who got that way partly due to subsidized interest rates and tax loopholes.

Second, the debt has been there and been growing for decades.  The current "crisis" is Republican propaganda -- but one they seem set on making a self-fulfilling prophecy:  We don't have a crisis as long as investors and other countries are willing to invest in our government bonds.  They will dump the bonds and we'll have a true crisis when they deem the US unstable and unlikely or unwilling to pay off our debts.

Third, if you compare our debt to our assets, then the situation looks pretty good, even in household budget terms.

The country's assets include things like
natural resources
an educated workforce
a stable political environment
an apolitical and stable federal workforce
an apolitical military
an honest and apolitical judicial system
a thriving and sound business environment
a system of primary research that fuels industry and progress
a healthy natural environment
etc
etc

See the real problem?[/quote]

Not entirely true.  Our debt to GDP ratio was in decline until 2008 and TARP etc.

Our debt exploded under Bush-Obama-Trump.  There are historical reasons of course, but our explosion in debt is actually quite recent, and really only after the last 15 years:

https://fred.stlouisfed.org/series/GFDEGDQ188S[/quote]

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