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To: AdamSelene235
They will either have to tax us into the ground or radically alter the scope of government.

Third possibility: A government has the power to repudiate its debts. The Spanish government did it about half a dozen times during its spiral out of great-power status. And continued to find takers for its instruments, incredibly!

314 posted on 07/22/2002 2:18:48 PM PDT by aristeides
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To: aristeides
Difference between the Spaniards and the US; we never, ever repudiated our debts (the Confederate debts are another matter).
327 posted on 07/22/2002 2:39:57 PM PDT by steveegg
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