Quote:
Originally Posted by Didace
Please provide support for this.
It is known.
If formerly, debt was paid off with more debt financed with other peoples money. "Currently" it is paid off with debt financed by other peoples' money
and a self made promise.
The federal government runs a deficit pretty much every year for decades.
"Balancing the budget" just means that for that year they broke even, not that they made an iota of difference on their balance sheet.
They are solvent because they control and money supply. And more recently, because they self financed with a money supply that they control.
It is actually worst than a typical ponzi scheme.