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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What happens when you default on your debts?

The banks raise your interest rates…

On $31 trillion dollars…

That will cost the United States more than any of the proposed spending cuts. [/quote]

You have it backwards.  All this debt makes inflation go higher and interest rates go higher.
On $31 trillion dollars.
[/quote]

The debt it already there. the inflation happened because of the recovery from COVID as evidenced by HIGHER inflation in other industrialized countries. If the Biden spending was the problem, the inflation would be higher in the US, but it isn't.

That said, we already have the debt. So causing an economic crash and driving interest rates higher and particularly the rates the US government pays, sim,ply means that that cost to service the debt goes up and the country gets less for its money, thus costing more than it does now.

[/quote]

The current inflation is from energy policy, which explains why Europe is higher.  I am saying this debt will produce more future inflation.[/quote]

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