Silly question here. If everyone is owed this money now, and still isn’t getting it, what would happen if the US said screw it and defaulted on everything and zeroed out all accounts and started from square one?
Clean out all the crap, go through a new budget process and go from there. What are the ramifications to the American taxpayer?
“What are the ramifications to the American taxpayer?”
Everyone who has a 401(k) or pensions that contains US government bonds would take a massive hit.
All the wealth of Americans would instantly disappear and the following year we’d be eating bugs off each other.
Walking away would be a bad thing for the economy.