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by kristjansson·1y ago·view on hn ↗
The US could pay its debt tomorrow, in full. We'd like to avoid that shock, if possible, but there's nothing uncreditworthy about running a fiscal deficit.

USG revenue/spending should be reasoned about in terms of the resources it directs, and the resulting effects on US and world GDP. Everything else is just accounting.

3 comments
Interest on debt is the second biggest line item in the budget (said someone else in this thread)
It is #4.

Social Security, Medicare/Medicaid, and defense are larger.

https://fiscaldata.treasury.gov/americas-finance-guide/feder...

Treasury bonds are non-callable, so a substantial portion of US debt can not be paid back early.
it could if it borrowed money from china /s