I’m in agreement with you. Our politicians, if they did this, would destroy the economy and country.
But that’s not the premise of my question. The premise of my question are a united front of politicians who are truly patriotic and are completely in service to the country. This question is really fantasitical of what would happen if we did this, to pay a large part of the debt down, and then tighten things up until the dollar regained its value.
It’s really an academic question more than anything else. I tried to make that clear in the beginning, because I’m only interested in the academic aspect of this.
The patriotic course is refusing to pay the debt to punish people who funded a tyrannical government.
What you’re describing is effectively a default on U.S. debt. It would not have a good outcome for us.