[Lower Deck]

My inclination would be to ‘refinance’ the debt at a better interest rate.

You aren't talking about your house or car. This is government debt. So how would your refinance work?

[Gaffer]

I guess it would be like what Obama’s Fed did for the first 6 years - issue $85 billion/MONTH in debt, half in T-bills and half in Mortgage Backed Securities. While the money wasn’t used to pay off existing debt, it is the same principle. The government just used half of the borrowing (T-Bills) to legitimize NEW debt (that $1T/year extra spending) and the other half to buy off the stock market and keep it fed so the whole mess didn’t blow up with the lies.