Any increase in national debt is by nature a tax increase. All debt must eventually be paid by tax revenues. The amount tax revenues must increase, in present value terms, is equal to the increase in the debt. Debt = taxes. Law of Economics.
Please.
We borrow 40 cents on every dollar we spend.
That can’t last forever, but the answer is not that automatically debt = taxes.
Money can be printed. It’s called “monetizing” the debt. Not a good option, but an option nonetheless.
The economy can unleash growth and tax revenues would roll in without a tax increase. A properly constructed tax cut such as in capital gains, etc, has been a proven automatic revenue increaser. Any increase in revenues does not have to be spent and would therefore be available to balance a budget and pay down debt.
Please.
Get a grip.