Here is the dirty little secret: Who says the grandchildren have to actually pay? They may choose not to.
“Here is the dirty little secret: Who says the grandchildren have to actually pay? They may choose not to.”
True, they can leave. But with what? They sure won’t be able to bring cash that’s worth anything. And they won’t be able to sell any real estate, since no one will want to live in a state with the confiscatory tax rates necessary to pay off these terrible bonds.