However, the US Treasury does not have the cash to pay your principal. They will BORROW that money at the going interest rate of 10%+.
Yeppers
“However, the US Treasury does not have the cash to pay your principal. They will BORROW that money at the going interest rate of 10%+.”
I notice that the United States somehow survived when the Treasury was borrowing at 14.5% in 1982.
In fact from 1980 until 1986 Treasury was borrowing at over 10% every single year.
https://www.multpl.com/10-year-treasury-rate/table/by-year
Congress has the vote on whether or not the Treasury can retire debt. Quit deficit spending, let the Debt-GNP ratio decline.