The entire idea of a debt limit is a limit. There’s never been a debt limit. How can I write that. Well, I’m not so eff’n stupid as the vast majority of DC. Limits have a limit. There’s no limit when it increases every time we reach the previous imaginary limit. There’s been no limit on spending and hence no limit on debt. Modern Monetary Theory is for morons. It doesn’t work. We need to do the opposite. Massively cut government and government spending. I don’t give two 💩’s about government employees losing their jobs either. Make them find jobs in the private sector and be productive. Build something for a change. That’s better than people in the private sector losing their jobs. They are the ones that actually pay the bills.
Of course, that won't happen because the American owners of Chinese debt are American citizens. If U.S. government agencies owned the unpaid China debt we would have dropped the hammer on them long before "Nixon went to China".
Wrong. It would make selling more debt more expensive. It wouldn't be any more difficult.
You might even have to denominate the debt in another currency like Euro's or the Chinese Yuan or Brics.
Don't think that our politicians won't promise that your children will repay with gold if they have to.
>> . I don’t give two 💩’s about government employees losing their jobs either.
I want to see 85% to 90% of fedgov employees fired.