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That credit limit is internally imposed. You can't just keep raising it and borrowing as much as you want.
Says who? You do know the odds of the US defaulting is next to nill?We don't need to borrow to spend. Bonds are merely financial assets. They don't fund spending.
Says who? You do know the odds of the US defaulting is next to nill?We don't need to borrow to spend. Bonds are merely financial assets. They don't fund spending.
I understand this.
But that "credit limit" is nothing more than an internal safeguard. Raising it does not mean anything, it's simply a step in the process of borrowing more money.
The odds of the US defaulting now are next to nil. The odds that the US can continue to spend more than it takes in indefinitely are zero.
But that "credit limit" is nothing more than an internal safeguard. Raising it does not mean anything, it's simply a step in the process of borrowing more money.
The odds of the US defaulting now are next to nil. The odds that the US can continue to spend more than it takes in indefinitely are zero.
The US does not need taxes and bonds to spend.We're no longer on the gold standard.
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