What US can do with its dept? Genuine question.

[a298b112]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

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[bitmover]

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

All countries have a huge debt.

Most of them will just roll over their debt, I e.,  renew the loan (getting more loan to pay the incoming ones)

The interest rates will have to go down some time and everything will be back to normal imo

[Yogee]

What do you think, how this situation will be resolved?

If you're asking about US specifically then one major step they've been doing is making money elsewhere. I'm talking about creating conflicts in other countries through interventions under the pretense of "democracy" and protecting their "national interest". They are the top arms exporters for a reason.

[coupable]

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

If you mean only the United States, then I think the question is easy to answer because the United States is one of the few countries capable of exporting its debts outside its borders, since it is capable of provoking conflicts and wars in order to sell more weapons and thus obtain more resources for repayment. At the same time, if America wanted to collect its debts around the world to pay its dues, it would certainly create economic chaos that would threaten the stability of countries.
If you mean any other country, this depends on the amount of debt it has and who the creditors are. All countries of the world have debts, but there is something similar to a general state of stability.

[Bitcoin Smith]

US is borrowing or they printed their own money?

For any country to revive from the huge debt need to practice multiple things like responsible fiscal policies, controlling their inflation rate, and debt reconstruction.

If I am not wrong, US actually realized it, and they are spending billions of dollars of their taxpayers' money on military to stay as world police, but now they take back and trying to control their military expense and still a lot of work need to be done and someone with actual knowledge of how system works may manage things better than now.

[Faisal2202]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

I will give the answer based on my experience, our country was on the edge of declaring default, we consider it already defaulted but till now, our government has not declared that openly (publicly). Well, we are on the edge of default because of huge debts taken from all over the world. We took most of the debt from the IMF and the debt that we had taken is now less than the interest rate that is on that principal amount.

Overall, the thing is we saved ourselves from this by taking more loans (hehe) and we used those loans not to enhance productivity and provide more jobs instead we used that money to open more schemes that are totally useless.

Well, leave this discussion and the answer to your queries will be that the US has big icons and legends, companies, big tycoons, etc. The most rich people and companies are there. People of the US are so rich and the US has resources that they have gained access to using their democracy slogan (hehe  ), I doubt if there is any need to worry about this thing, as debt can be dealt in a blink of an eye if they really want to solve it.

[Fortify]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

When you owe the bank one million, you have a problem. When the bank owes you one million, they have a problem. America is in one of the most desired positions of any country in the world, they are so credit worthy that other countries will continue to lend to them even though they have these vast mountains of existing debt. Not only that, they owe the central bank that allows them to print as much money as they want, which effectively allows them to shrink the debt over time. As they have the main reserve currency of the world, they are able to negotiate excellent deals and even enforce actions on other nations that wish to trade heavily in US dollars, which they have done for many decades now.

[Yaunfitda]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

Isn't it obvious though, I mean they are getting the money from their people in form of:

a. Taxes - we've seen and heard that they are still rising their taxes.
b. very controversial, but it was mentioned by @Yogee, they can make money in conflicts because they are going to supply the armaments.
c. Create jobs - but this is very difficult to achieved without investors money coming in

I'm not sure if there are nations without any national debt it. Sooner or later they will need to borrow money from someone else.

[JunaidAzizi]

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

This debt was faced by Japan in the early 1900s but they followed the necessary measures and controlled up to some limits. In the case of the US, there are several ways that the US can rid of it. According to me the one and best option for this is to increase trade with other countries. The US needed to increase the surplus trade and reduce its imports. This will provide a backbone to their economy and have good consequences. The surplus trade is the one in which your export is higher than the import and when the less import they can hold much profits which they use to solve this issue.

However, there are also many economists which also give their own thoughts that the US needs to increase the tax on wealthy persons which will create good revenue and the other solution is to stop spending on unnecessary or useless things and some economists give these both planes through which they can easily solve this problem.

[bittraffic]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

Other nations who had huge debt in history was that they printed more til people were poor trillionaires.

Biden did have a plan to counter the Belt and Road initiative of China (BRI) but instead of building it in Europe, they should just build it from Alaska and then Canada down to Argentina. Covering the whole continent without having to cross the sea. Maybe they could even extend it to Northpole to Russia which is the new field of gas exploration.

[Spaceman1000$]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

There are lots of ways government of different countries tries to unburden debt, the country that is in debt can decide to give out their  revenue-generating agency to the country they are indebted to, to be collecting the money from that agency, for example, they can give out their port authority to the country they are indebited to,  to be collecting the revenue for a particular period of time pending when they can clear the debt.

The indebted country can also give licence to a particular company to produce a certain product,  for which the country they are indebited to will be the sole producer of that product, for a period of time pending when the debt will be cleared. But in the international law, there are ways government's of various nations try to come to level of agreement in settling their debt.  Borrowing is good, but what your borrowing for, is the most important question to ask.  as a country if you're borrowing for consumption, it will be hard to pay back, because there will be little for you to fall back on. But if you're borrowing for production, it will help your revenue base so you can at least pay back little by little, if not, you will suffer the consequences of he who goes borrowing goes sorrowing.

[ZAINmalik75]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

They might take more loans or increase the interest rates. To be honest, they are not going anywhere near default because the US is a big economy and they have numerous ways to make money, and they also have a lot of brands generating billions of dollars. And the US is collecting huge taxes from them.

Even though they have imposed taxes on NFTs, crypto, etc., that's not something new.

They might be stuck in a debt cycle, but their relations with other countries are damn awesome, and they don't even have to listen to anyone else because they are so bold in taking actions that other countries need their assistance and love to sit with them at a table.

This condition will be solved by paying off the debt.

[avikz]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

In modern economy debt is the gold. Earlier countries used to have gold reserve which used to derive their purchasing power. Now that system has been replaced with debt. So every country in the world have huge amount of that on them and that's how the money circulation happens.

There is literally no solution until we go back to the gold reserve again. That is how the money is printed.

[Captain Corporate]

The question is moot because this is not the first time in their history that they have a debt. Maybe it looks bigger now to you, but they always had a lot compared to the time they had it, when it was just 1 trillion dollars for the first time ever, that was a lot of money for its time, when it peaked at 10 trillion dollars that was the biggest ever of its time, now they have a new one and they are %100 going to increase the ceiling as soon as both parties get what they want, and they are going to just keep going. Whatever they did with the previous "biggest of its time" before this, they will do exactly the same thing. If we were talking about a nation that wasn't like this before and suddenly became a big indebted nation then we could have considered the answer, but its just going to be "whatever it did so far" and nothing more.

[bittraffic]

The question is moot because this is not the first time in their history that they have a debt. Maybe it looks bigger now to you, but they always had a lot compared to the time they had it, when it was just 1 trillion dollars for the first time ever, that was a lot of money for its time, when it peaked at 10 trillion dollars that was the biggest ever of its time, now they have a new one and they are %100 going to increase the ceiling as soon as both parties get what they want, and they are going to just keep going. Whatever they did with the previous "biggest of its time" before this, they will do exactly the same thing. If we were talking about a nation that wasn't like this before and suddenly became a big indebted nation then we could have considered the answer, but its just going to be "whatever it did so far" and nothing more.

They do have a choice usually they will have 2 on their hands. War or print money.  Usually, An empire will pick the printing of money since ancient times but before it happens there will be war in an attempt to grab resources and riches. Roman Empire, Ottoman Empire, and even the Chinese Empire did the same thing, there was always a war before the empire collapsed.

It seems to be the pattern of this world. One nation rises up as a global leader and then collapses after hundreds of years. The US is no different to them.

[BIT-BENDER]

My country is in huge dept especially after they took several loans form other countries that includes China, but my country is not a power house in terms of economy and that's difference between them and the US, the US took depts and even though ever country is a bit corrupt the US can be able to manage the loans they took and channel it into something productive and then they should be able to clear their depts before the deadline.

But in most developing countries where corruption thrive borrowed money are mostly mismanaged, embezzled or use to be put into things that aren't productive that why it's harder for an underdeveloped country to clear their depts than a developed country.

[cryptomaniac_xxx]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

Not just US, as others have said, a lot of countries around the world are in debt. Even super power countries like the US, Japan and China itself. The thing is that their country is also moving, so at least they were able to survived, unlike any other countries that really sink in the hole and can't get up and not sure how they are going to pay for it. Perhaps they will do trade and barter with the countries that they have a loan and that's what most of them are doing. However, it's very difficult on how this situation will be resolved and it might be cyclical. After they paid, then they have to re-loan again and again. Printing money could be any option, but it's not the answer as it will cause inflation pushing their economy down.

[el kaka22]

I mean you pay the old debt, and you keep increasing the new one and you keep it going, that's as simple as that. You borrow money today but you pay it 10 years later, with inflation you hope you did better with that money than you should be paying it back, and by that time you are going to get more debt anyway, so when the time for your debt comes, it has been 10 years since you took it.

Plus most of the "debt" is not really debt, that's just inflation, they are literally printing money every year anyway, so that means they are going to just use that and pay it back and hurt their currency a little bit but because other currencies are doing even worse, they will be fine. Look at the last situation with pandemic, they printed trillions and they still did fine compared to other currencies.

[serveria.com]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

The truth is they can't do anything about it. They can only witness it grow bigger that's it. Trying to stop or reverse the growth will definitely lead to more printer go brrr and eventual collapse.

[STT]

There is a solution but its boring and requires a budget surplus, hard work to repay debt and how will you win an election without giving away tax breaks and other things in the run up the vote.  Its just not going to happen unfortunately, what will occur is loose money and repayment via inflationary loses to the capital value of the debt.  Thats really more damaging because inflation causes harm to the economic prospects of especially small business and business people.
   I have a few dramatic ideas but again would not be popular, its feasible for USA to use only natural gas for its energy.   The main challenge with natural gas is its a much more bulky energy then oil or coal.   If they use natural gas, the oil can be exported creating the value to repay the debt with a surplus trade balance and also revenue just run to service the debt repayment.   Theres enough gas in the ground to provide all USA energy usage for over half a century, excluding anything like hydro and other new forms of power.
  Current oil policy has been to use up the strategic reserves so I think we're going in the wrong direction as far as being rid of the control oil has on an economy and its costs etc.
   

[Darker45]

There are probably a hundred available approaches to it. Especially to rich, influential, and powerful countries like the US, there must be a lot of ways to confront it.

For one, just like in individuals and families, government debts could actually mean greater productivity. And I'm sure that whenever the US gives generous aids, for example, there are a team of economic experts that have already computed the benefits that would come out of it.

Moreover, there's the power of the government to impose all kinds of taxes. And then they also have the absolute power over the money printer.

[Husires]

The past cannot tell us much. The economic situation has changed dramatically since 1971, and the United States was able to place dollars in the world without a monetary cover. The United States’ debt is paid by all countries that bear the cost of this debt. Unless there is a military change or a world war, it will not survive. Any country that can replace the dollar from the throne of the best currency.
The debt of the United States is increasing because they are trying to always be the best and excel in areas such as military science, cybersecurity, energy security, and new technology in addition to patents.
All countries bear the bill for this research, and they cannot do much because they depend on the dollar.

[franky1]

all countries have debt.. the funny thing is if one country cancels the debt of another country, that other country can then equally cancel debt amount to that first country.. and if they all done it to rebalance themselves down. the numbers would be far lower for all

for instance US owes japan $1.1trillion
however japan owes the US $274Billion

so just on that statistic the US could bring debt down to $826bill instead of $1.1trillion

now lets say america has a wiggle room to increase its debt, but to do so to benefit another country
next up US owes belgium $354billion
japan owes belgium $236bill

so if belgium cancels $236bill of US
and japan cancels the $236 debt to belgium, and takes belgiums US debt and adds it to the US debt to japan.. bringing the debt US owes japan back to $1.063trill
belgium can be clear of all debt to japan and the US is still under the $1.1trill ceiling

the US can then do a similar thing in opposite direction with another country to get the US to japanese debt down again
repeat, repeat, repeat
...
but here is the thing, debt is a tool. if US has demands on say the UK, then the UK are beholden to agree to certain trade terms or other sanction details else the debt will become due so the US want other countries having US debt. so i dont see the US doing a debt cancellation program of world economics to bring all countries debts down.. yes its mathematically possible just not politically possible

[tabas]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet.

This website is what I've seen from someone before: https://www.usdebtclock.org/
It's the US' debt and it keeps on moving nonstoply.

Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved?

There's no way to resolve it because with that amount of $33T, that's a lot of money and will continue to grow with the interest.

What did happen to any other nations who had huge dept in history?

All if not, the majority of the countries have huge debt and there's even this meme that I have seen before about where on Earth these countries are indebted. But most of the countries that have huge debt are having hard time because instead of that money will go into their country's budget for many projects for their people, they have to pay it which is an obligation that will time until it gets paid in full.

Is there any ways offered by economists to resolve the situation?

There can be ways but it's all just like blah blah blah words from them where in fact that there's no way to solve it unless every rich folks in that country contributes and pay for that government debt which is impossible to happen.

[sana54210]

Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved?

There's no way to resolve it because with that amount of $33T, that's a lot of money and will continue to grow with the interest.

I feel like that's becoming the norm and there is really nothing that anyone even wants to do about it. That is why it is not getting taken care of right now, I feel like people are just trying to do whatever they possibly could do and saw that nothing changes so they are basically just letting it be. And that's a normal thing, I am not sure if it will ever get solved, it is just going to grow more and more, one day soon it will be 40 ,then 50, then one day it will be 100. So, we just need to let it be, and not worry about it.

What can we personally even do? Not like there is anything we can do, I mean not about USA debt, I mean our own national debt, all of our nations have some debt, surely not as high as the USA one but still all of our own nations have it, and we need to reconsider what we can do about it as well. I get that it may not be all that simple and such, but we still can't do anything about it and we just have to watch it grow at this point, we all gave up.

[South Park]

There are probably a hundred available approaches to it. Especially to rich, influential, and powerful countries like the US, there must be a lot of ways to confront it.

For one, just like in individuals and families, government debts could actually mean greater productivity. And I'm sure that whenever the US gives generous aids, for example, there are a team of economic experts that have already computed the benefits that would come out of it.

Moreover, there's the power of the government to impose all kinds of taxes. And then they also have the absolute power over the money printer.

Without a doubt there should be a lot of mechanisms for the US to reduce its debts all around the world, what is interesting is that they are not doing anything and instead the US is just increasing its debt ceiling, by this alone I can conclude that somehow the US debt is useful in some way or form, I am not so sure why this is the case as I am not an expert on the topic, but this makes sense, as otherwise the only other explanation that could explain why this does not happen is that the politicians in control of the US government do not know what they are doing.

[Unbunplease]

Without a doubt there should be a lot of mechanisms for the US to reduce its debts all around the world, what is interesting is that they are not doing anything and instead the US is just increasing its debt ceiling, by this alone I can conclude that somehow the US debt is useful in some way or form, I am not so sure why this is the case as I am not an expert on the topic, but this makes sense, as otherwise the only other explanation that could explain why this does not happen is that the politicians in control of the US government do not know what they are doing.

The US has complete confidence in itself. They show that they don't care if they have debt or not. The main thing is that they still control the situation. And debt is a purely economic quantity that can be easily manipulated (the debt ceiling can be raised indefinitely).

[adaseb]

First thing they need to do is start to  cut down on their debt. They are making the hole more difficult to get out of. And since interest rates are high they are paying higher interest on their own debt.

Next thing they need to do is get more tax revenue, and I am not talking about blue collar workers I am talking about all the millionaires and billionaires which barely pay any taxes. There are way too many loopholes and they need to be plugged.

Another is they need to start to develop more. Find maybe another useable energy source instead of relying on foreign oil. Make more products in USA instead of overseas. It'll be tough but they can find ways to reduce it. Or at least temporarily prevent it from rising further.

[Yogee]

First thing they need to do is start to  cut down on their debt.

This is probably not going to happen soon with the proxy wars they've been fighting.

They continue to send funds to Ukraine as they battle Russia and it seems a lot of that money is coming from China. If that's true then it's funny how they're borrowing from one perceived enemy (China) to fight another (Russia). This could be just a rumor but there are some articles that says Biden approved $8 Billion military aid to Israel after the recent attack from Hamas.

[bluebit25]

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

Suddenly I started thinking about the issue of war from this question and what is happening in many areas, development or competition, economic war between leading countries to prove their position. Most countries have mutual debt, and they could use stricter fiscal policies, such as strengthening budget controls, improving public debt management and building a fair tax system.  As is clear it is a lengthy process and depends on many factors, including political, economic and society.

[pooya87]

My country is in huge dept especially after they took several loans form other countries that includes China,

There is a huge difference between foreign debt and national debt. What your country (and a lot of others have) is foreign debt which is where they borrow money from elsewhere.
The national debt which is what US is suffering from is where you print more money than you should by practically borrowing money from every single citizen creating inflation. Another way to look at it is the government spending more money than they actually have. This is a simplification but I hope you get the difference.

What's gonna happen depends on how dedollarisation goes. You see unlike other countries and other fiats, when US prints money and creates debt, they export that inflation to others. But as more countries dump more dollars, this inflation goes back to United States.
So a period of very high inflation and shrinking economy and even recession is on the horizon.

[slapper]

My country is in huge dept especially after they took several loans form other countries that includes China,

There is a huge difference between foreign debt and national debt. What your country (and a lot of others have) is foreign debt which is where they borrow money from elsewhere.
The national debt which is what US is suffering from is where you print more money than you should by practically borrowing money from every single citizen creating inflation. Another way to look at it is the government spending more money than they actually have. This is a simplification but I hope you get the difference.

What's gonna happen depends on how dedollarisation goes. You see unlike other countries and other fiats, when US prints money and creates debt, they export that inflation to others. But as more countries dump more dollars, this inflation goes back to United States.
So a period of very high inflation and shrinking economy and even recession is on the horizon.

The US producing money, accumulating debt, and exporting inflation is significant, right? As the world's reserve currency, the dollar has long been unique to the US. What happens when more nations abandon the dollar? As you noted, exported inflation could return to the US, raising prices and possibly causing a recession. A tricky balance, right? Managing the economic effects of such transformations demands a strong and flexible economic strategy. How will the US and others handle global economic changes? Only time and policy will tell.

[nara1892]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

Print more money and that's what America does. They will do anything even if the impact puts other countries on the verge of collapse. No situation can be resolved as long as the Dollar is still wind, and nothing can support it. Therefore, other countries are starting to appear bored with the current dollar system, and this has also become one of the grounds for the emergence of several other alternatives. The BRICS are trying to kick their dollar addiction while still paying their debt to the US. We also need to do that by continuing to preach that Bitcoin is the only asset source capable of fighting reverse inflation. This will also motivate Bitcoin-friendly countries to have future financial options.

[posi]

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

If you mean only the United States, then I think the question is easy to answer because the United States is one of the few countries capable of exporting its debts outside its borders, since it is capable of provoking conflicts and wars in order to sell more weapons and thus obtain more resources for repayment. At the same time, if America wanted to collect its debts around the world to pay its dues, it would certainly create economic chaos that would threaten the stability of countries.
If you mean any other country, this depends on the amount of debt it has and who the creditors are. All countries of the world have debts, but there is something similar to a general state of stability.

Like what we are going through, crisis, war, inflation... and the US government is exporting inflation to the world. They are in the position of the world's largest creditor, not a debtor like many other countries. The US government debt rises to record highs every year, but that is only in theory and in reality they are the owners of the world's money printing machine, the Fed and the USD. So to say they will default, that's really unlikely. Unless the USD weakens and is replaced by another currency, the US economy will risk collapsing.

[kryptqnick]

There's an article about what the US could do about its debt on Investopedia, I think it's pretty interesting. Aside from setting high taxes, it discusses various over ideas, such as opening borders ('cause immigrants start businesses at twice the rate of US citizens + it would create new demand for various goods, thus stimulating their production) and raising the age of retirement (to cut the spending and to ensure people pay for their social security longer). But most ideas revolve around changing something with taxation.

[Hispo]

The most Orthodox solution is the most obvious. The United States needs to close gap of their deficit, to get onto green numbers and stop borrowing out of control.

In order to do it, they need to either increase their income or decrease their spending. I am more in favor of increasing their income rather than cutting off social programs which thousands of people depend on.

It is about increasing production and making sure all citizens are paying their fair share.
It would also help to cut on overfunded branches, like the military

[pooya87]

The US producing money, accumulating debt, and exporting inflation is significant, right? As the world's reserve currency, the dollar has long been unique to the US. What happens when more nations abandon the dollar? As you noted, exported inflation could return to the US, raising prices and possibly causing a recession. A tricky balance, right? Managing the economic effects of such transformations demands a strong and flexible economic strategy. How will the US and others handle global economic changes? Only time and policy will tell.

Abandoning dollar is the definition of the New World Order. Each time the World Order changes, there will be a lot of "chaos" in the world. In other words it is expected in all aspects including economy, energy, food, security, etc. Many countries were already prepared for it, some got prepared for it over the past year and a handful will continue to remain unprepared.

How will they handle this significant global change?
How each country will handle it depends on the countries considering their preparedness, their people, their strengths and weaknesses, their infrastructure, most important of all their resources and their relations (which side they stand with).
For example both Pakistan and Germany have been facing an energy crisis over the past 1.5 years but the effects and how they handle things are vastly different!
India is another vastly different situation as they are transitioning into China's role as a massive "production factory" and has been setting record high economic growths despite being an energy importer too.
Iran is another example but as an energy exporter that despite being in the midst of the longest and largest cold war in history, has the most battle hardened economy and despite all this has been setting record high economic growths from 5% last year to the 7.9% from the first quarter of this year (that is Spring).

As for US itself, they too have plans to prevent hyper super-ultra inflation inside United States as the world dumps the dollar. I haven't done extensive research to fully explain it, just read some articles here and there. For example one way is the laws they have that would practically "block" the dollars from coming back to US mainland! Basically turning any dollar outside of US soil into garbage to keep the "domestic supply" low.

[Baofeng]

The most Orthodox solution is the most obvious. The United States needs to close gap of their deficit, to get onto green numbers and stop borrowing out of control.

In order to do it, they need to either increase their income or decrease their spending. I am more in favor of increasing their income rather than cutting off social programs which thousands of people depend on.

It's easier said that done though, not just US but any country that is in dire financial problems will have to borrow money somewhere else otherwise they won't survived specially coming from the worst pandemic we have seen in centuries.

It is about increasing production and making sure all citizens are paying their fair share.
It would also help to cut on overfunded branches, like the military

Of course they will have a lot of programs, they are even bailing banks right now just to have their banking system stay afloat. Taxes too will be one great program but the people are not going to like it as they likely to suffer as well with the economy on the brink of disaster.

[Hispo]

The most Orthodox solution is the most obvious. The United States needs to close gap of their deficit, to get onto green numbers and stop borrowing out of control.

In order to do it, they need to either increase their income or decrease their spending. I am more in favor of increasing their income rather than cutting off social programs which thousands of people depend on.

It's easier said that done though, not just US but any country that is in dire financial problems will have to borrow money somewhere else otherwise they won't survived specially coming from the worst pandemic we have seen in centuries.

It is about increasing production and making sure all citizens are paying their fair share.
It would also help to cut on overfunded branches, like the military

Of course they will have a lot of programs, they are even bailing banks right now just to have their banking system stay afloat. Taxes too will be one great program but the people are not going to like it as they likely to suffer as well with the economy on the brink of disaster.

Obviously it is easier to say it than doing it.
I just feel that some branches of the government in USA and over funded, while keeping others underfunded or not using the chance to do some non-essential cuts to face the deficit they have.

With the increase of immigration, I would only expect the federal and local governments to further suffer by stretching their budget, to take care of such humanitarian crisis. It is problem after problem which does not seem to be a solution for, without hurting thousands of people.

[tabas]

There's no way to resolve it because with that amount of $33T, that's a lot of money and will continue to grow with the interest.

I feel like that's becoming the norm and there is really nothing that anyone even wants to do about it. That is why it is not getting taken care of right now, I feel like people are just trying to do whatever they possibly could do and saw that nothing changes so they are basically just letting it be. And that's a normal thing, I am not sure if it will ever get solved, it is just going to grow more and more, one day soon it will be 40 ,then 50, then one day it will be 100. So, we just need to let it be, and not worry about it.

What can we personally even do? Not like there is anything we can do, I mean not about USA debt, I mean our own national debt, all of our nations have some debt, surely not as high as the USA one but still all of our own nations have it, and we need to reconsider what we can do about it as well. I get that it may not be all that simple and such, but we still can't do anything about it and we just have to watch it grow at this point, we all gave up.

It's just like a stuck thing that will last forever and as we say if death and taxes are permanent, there's another one. It's either the US' debt or any other country's debt that has been there forever and has a hard time paying it. And that's like the sad reality that everyone needs to take, that no matter what they do, no how hard we work on it and contribute to it, it's almost not moving and even adding more due to the interest. While some countries have the lowest debt, maybe these countries that have a high national debt can learn from them. But no, I don't think that will happen since most of these global leaders think that there's no other one that's better than their management.

[Minecache]

The most Orthodox solution is the most obvious. The United States needs to close gap of their deficit, to get onto green numbers and stop borrowing out of control.

In order to do it, they need to either increase their income or decrease their spending. I am more in favor of increasing their income rather than cutting off social programs which thousands of people depend on.

It is about increasing production and making sure all citizens are paying their fair share.
It would also help to cut on overfunded branches, like the military

It sounds easy but I think there are thousands of problems to solve. The government has hundreds of thousands of economists on hand but they still don't have any effective solutions, while we don't even know how their economy is working. So for us to come up with ideas to fix this, to me that makes no sense.

In my opinion, things will continue like this, debt will continue to increase every year and at some point it will become too overwhelming and will explode. And everything will be reshaped from scratch as a new world. It could be a pandemic, a third world war or any other major black swan that will reshape the world again and a new world order will be established from there.

[hyudien]

What do you think, how this situation will be resolved?

If you're asking about US specifically then one major step they've been doing is making money elsewhere. I'm talking about creating conflicts in other countries through interventions under the pretense of "democracy" and protecting their "national interest". They are the top arms exporters for a reason.

And what the US has not yet acknowledged is that it creates conflicts in other countries. Their war funding started on its own by using other parties, creating massively funded armed groups, and then the US came in with a new face as if they were going to be the heroes. Instead of reducing the conflict, the US actually offered assistance in the form of weapons which were no less free. Like it or not, debt becomes a solution that must be paid after all conflicts are resolved. A conspiracy that has become public knowledge. But other countries can't do anything because the situation demands them to follow US rules.

The debt is ballooning but the US can print more dollars. They say this is all for the stability of the superpowers, so don't be surprised that every country that has exploited its debt to the US will become a chain of chains.

[Fara Chan]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

The situation will be resolved based on an agreement from both parties before borrowing money is made or carried out by countries that need money from the US. So it seems like it would be a waste of time if we thought about that, because economists also have strategies that they will carry out through anything, including through borrowing money. This will be resolved in accordance with the initial agreement of each borrowing country because the US also has a mission to lend money to countries that need it.

[Kakmakr]

I think the US foreign affairs, should start with cost containment on decisions to fund "external" wars or to deploy US troops in foreign nations. Their primary concern should be to focus all funding on the war on debt. 

They should also hire independent private companies to audit all government tenders, because the prices for these tenders are inflated and US tax payers are paying a premium for goods and services that are rendered to the government.

They should also reduce non essential projects that are not necessary for the effective rendering of government services.   

[davis196]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

1.Solution number 1: The Federal Reserve keeps printing more dollars, which leads to devaluing the US dollar, which devalues the US debt.
2.Solution number 2: The USA defaults and stops paying the debt. All the creditors lose money. The financial markets crash. The economy crashes and we will be witnessing another Great Depression for 10 years or more.
I think that the US central bankers and politicians will choose solution number 1.
There's also solution number 3:The US government cuts 2 trillion dollars government costs and raises taxes in order to achieve a balanced federal budget and get rid of the budget deficit. This is close to impossible.

[so98nn]

It’s like every country is in debt and thus progression of GDP is always high for United States. Even if there is debt they still have decent amount of money to run the country, develop infrastructures, pay the pensions, run entire military operations and what not. So what is the problem here? Ideally there is none because they are seeding more money than the debt but entire focus is on the development of nation.

What they can do is, increase the fed interest rate, put more burden on the supply chain and in house developments of various products and services. I am not sure how far they will keep the debts but they do have capacity to nil it sooner but they aren’t doing it. (secrete alarms) 

[blckhawk]

Iirc, most of their debts are from the Federal Reserve or like their own bank so I don't think that it's really a big deal for them to pay it back anytime soon, they can just accumulate as much debt as they can because it's not like it's coming from other countries. I might be wrong though so I welcome any correction to what I'm saying. If I am wrong about the debt and it's a debt to other countries, US can just use their influence to pay those country not with the money but with favors, I mean a country that have US on their side is a big help especially in terms of military and foreign policy.

[harapan]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

This dept thing is something every nations is experiencing but how they go about it matters alots..probably they might be taking it lightly and going about their daily businesses.

This matter can be resolved if they stop being in Dept's.

The country have resources or means of recovering the money  and pay up their debts but I guess they are reluctant and watching what next will happen.its advice every developed country find a good means of paying off their debts rather than pushing it further for upcoming leaders to deal with.

[kingvirtus09]

Most of the country today is all in debt. Now that I know the US, whose debt is too big, there is no back-up of their dollar or currency, unlike other countries that are backed by gold and others that are backed by oil.

If this US can do it, it will be really deep in debt because it is debt after debt, and then they are not doing anything to reduce their debt. Then it seems that the style of the US will lend a large amount of money to a country, and then when they know they can control the country, they will attack it just to get rid of their debt, but this is just what I thought, and I'm not sure if this is the style of the US.

[pooya87]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

1.Solution number 1: The Federal Reserve keeps printing more dollars, which leads to devaluing the US dollar, which devalues the US debt.
2.Solution number 2: The USA defaults and stops paying the debt. All the creditors lose money. The financial markets crash. The economy crashes and we will be witnessing another Great Depression for 10 years or more.
I think that the US central bankers and politicians will choose solution number 1.
There's also solution number 3:The US government cuts 2 trillion dollars government costs and raises taxes in order to achieve a balanced federal budget and get rid of the budget deficit. This is close to impossible.

This is exactly why dedollarisation is mandatory for every nation around the world, that is if they want to survive the upcoming economic crash. The more they decouple themselves from the US economy and the US dollar the less affected they will be.

BTW they tried the solution #3 by cutting the cost from certain sectors like the healthcare, etc. but they increased the military budget and the military spending for overseas wars that not only negated that but also increased the US national debt by over a trillion dollar,... so far....

[m2017]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

I am sure that US will find a way to “zero out” this national debt. Probably no other “people” has such huge historical experience with public debt as the US. Economists offer “economic” ways to solve this problem, while the government US will find (or has already found and is waiting for the right moment to implement / is already implementing) an alternative. Don’t worry about them, they will easily get out of this situation, but the whole world will “disentangle” the consequences, as it was before.

[coupable]

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

If you mean only the United States, then I think the question is easy to answer because the United States is one of the few countries capable of exporting its debts outside its borders, since it is capable of provoking conflicts and wars in order to sell more weapons and thus obtain more resources for repayment. At the same time, if America wanted to collect its debts around the world to pay its dues, it would certainly create economic chaos that would threaten the stability of countries.
If you mean any other country, this depends on the amount of debt it has and who the creditors are. All countries of the world have debts, but there is something similar to a general state of stability.

Like what we are going through, crisis, war, inflation... and the US government is exporting inflation to the world. They are in the position of the world's largest creditor, not a debtor like many other countries. The US government debt rises to record highs every year, but that is only in theory and in reality they are the owners of the world's money printing machine, the Fed and the USD. So to say they will default, that's really unlikely. Unless the USD weakens and is replaced by another currency, the US economy will risk collapsing.

There are possible hypotheses that the debt will cause major problems for the American economy if international entities succeed in replacing the dollar with other currencies, that is, reducing its use. This will reduce the burden on those countries if America thinks about exporting its crises abroad.
The American system will never collapse because of debt because this would require the collapse of the entire global system. America knows this since it decided to violate the Brettonwood Agreement and began printing dollars without a gold backing.

[justdimin]

There are probably a hundred available approaches to it. Especially to rich, influential, and powerful countries like the US, there must be a lot of ways to confront it.

For one, just like in individuals and families, government debts could actually mean greater productivity. And I'm sure that whenever the US gives generous aids, for example, there are a team of economic experts that have already computed the benefits that would come out of it.

Moreover, there's the power of the government to impose all kinds of taxes. And then they also have the absolute power over the money printer.

If they are rich, why will they need to have a debt? Add in the tax and the money printer but they can't just print more money as that doesn't solve the issue, rather it can only worsen it. There are still rich people who has a debt, and they use the money to improve their business. Maybe the same approach the US are doing. Debts has a different effect to the people who has it.

Maybe it's true that they can be productive or more motivated when they see that their business is improving because of it and they also need to be productive to earn more money to be able to pay it. For others, it can cause a laziness especially if they use the money in things which are not beneficial.

[kingvirtus09]

I don't think the US can pay off what they owe because they don't seem to be doing anything to reduce their debt. You will miss them as time goes by and their debts are rising. Then their boastful dollar has no backup.

Unlike other countries where their currency is gold, surprisingly, how can the US become a strong country when there is no backup regardless of their fiat? Anyway, they just add their money to their money, is that so? Maybe the US is just recovering their money from taxes they take from their constituencies.

[Darker45]

~snip~

If they are rich, why will they need to have a debt? Add in the tax and the money printer but they can't just print more money as that doesn't solve the issue, rather it can only worsen it. There are still rich people who has a debt, and they use the money to improve their business. Maybe the same approach the US are doing. Debts has a different effect to the people who has it.

We can generalize that everybody has debts, rich and poor alike. As one's wealth grows so are his/her expenses. I think this is basically the same with countries. When a country gets rich, it can afford to do and provide a lot of things. That means its expenses also grow. It can provide quality and free education, healthcare, and so on. It can build all kinds of infrastructures. It can provide incentives to businesses and to its citizens. It can continuously upgrade its military. It can even spend much on other countries.

In other words, there's always a reason to spend more than what's earned. So, there's debt. To rich economies, add to it the fact that they are highly capable of borrowing. They can have massive amounts of debts because of their paying capacity. So, they have the luxury to borrow. But the economy isn't strong all the time. Sometimes it weakens. It fluctuates. And then there are irresponsible administrations that just squander money mindlessly. The end will always be a ballooning debt.

[dothebeats]

The United States is a power country, no matter how big the debt is they will be fine. Various smaller countries borrows money all the time, it's nothing new. Besides, what they mostly do is pay off the debt that was possibly due after 10-20 years then borrow again to use it to make more money like investments and projects. As for the situation of the United States, perhaps they will do exactly what they did during the COVID-19 pandemic-- print more money and let their currency take a bit of hit. Will it affect them? Sure, but will it cause their downfall? Certainly not. Hence, if we're talking about huge debt and just how bad it might get for a country we should discuss about developing countries instead of a power country like the United States.

[LittleBitFunny]

The United States is a power country, no matter how big the debt is they will be fine. Various smaller countries borrows money all the time, it's nothing new. Besides, what they mostly do is pay off the debt that was possibly due after 10-20 years then borrow again to use it to make more money like investments and projects. As for the situation of the United States, perhaps they will do exactly what they did during the COVID-19 pandemic-- print more money and let their currency take a bit of hit. Will it affect them? Sure, but will it cause their downfall? Certainly not. Hence, if we're talking about huge debt and just how bad it might get for a country we should discuss about developing countries instead of a power country like the United States.

They will not default even if the debt figure increases to millions and trillions of dollars because they control the world's money printing machine and they always use their enormous power to export inflation to the world. But that doesn't mean it could never happen, if their position of power were threatened and overthrown their downfall would be swift. They are not the only empire that exists in this world that never collapses, let's see how long the American empire can last. Everything has a life cycle and the American empire is no exception.

[slapper]

~snip~

If they are rich, why will they need to have a debt? Add in the tax and the money printer but they can't just print more money as that doesn't solve the issue, rather it can only worsen it. There are still rich people who has a debt, and they use the money to improve their business. Maybe the same approach the US are doing. Debts has a different effect to the people who has it.

We can generalize that everybody has debts, rich and poor alike. As one's wealth grows so are his/her expenses. I think this is basically the same with countries. When a country gets rich, it can afford to do and provide a lot of things. That means its expenses also grow. It can provide quality and free education, healthcare, and so on. It can build all kinds of infrastructures. It can provide incentives to businesses and to its citizens. It can continuously upgrade its military. It can even spend much on other countries.

In other words, there's always a reason to spend more than what's earned. So, there's debt. To rich economies, add to it the fact that they are highly capable of borrowing. They can have massive amounts of debts because of their paying capacity. So, they have the luxury to borrow. But the economy isn't strong all the time. Sometimes it weakens. It fluctuates. And then there are irresponsible administrations that just squander money mindlessly. The end will always be a ballooning debt.

Debt, debt, debt - it's a word that connects with everyone, doesn’t it? It appears to accompany everyone, rich or poor, nation or individual. You make a very compelling and, in many cases, correct point about the relationship between rising wealth and rising costs. Is it unavoidable that prosperity increases expenditure and debt?

Rich economies can borrow because they pay well. They spend, construct, give. Now, is it not risky to assume that spending more than earned is normal? Countries, especially affluent ones, can acquire large debts due to their ability to repay them. Should they always go that way?

Economies vary, and governments can waste money without planning. But shouldn't a strong economy operate with financial prudence, making sure its debts are sustainable and used to boost growth? A tricky balance, right? Balance spending, debt, and giving/wasting.

[tread93]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

Other nations who had huge debt in history was that they printed more til people were poor trillionaires.

Biden did have a plan to counter the Belt and Road initiative of China (BRI) but instead of building it in Europe, they should just build it from Alaska and then Canada down to Argentina. Covering the whole continent without having to cross the sea. Maybe they could even extend it to Northpole to Russia which is the new field of gas exploration.

\

You know what, I think you're onto something here. California and Colorado had their gold rush, shoot I think even North Carolina had one. Maybe its time that there be an Alaskan gold rush! They have found so much gold in AK its crazy. There are multiple shows on it, but you know it would be so cool to see a modern day gold rush. The footage and shows that would come out of that would surely hype of the industry.

[DrBeer]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

"The 'problem' is that the U.S. is borrowing ... from themselves
At the same time, they borrow what they themselves produce - dollars ! And the cost of production of this commodity is close to 0 So there is no problem. They can print as much as they want, and this mass of dollars will not "tear" the economy ... but will imperceptibly dissolve ... in the world economy. Therefore, this "problem" is more "indicative" than real....

[Darker45]

~snip~

~snip~

We can generalize that everybody has debts, rich and poor alike. As one's wealth grows so are his/her expenses. I think this is basically the same with countries. When a country gets rich, it can afford to do and provide a lot of things. That means its expenses also grow. It can provide quality and free education, healthcare, and so on. It can build all kinds of infrastructures. It can provide incentives to businesses and to its citizens. It can continuously upgrade its military. It can even spend much on other countries.

In other words, there's always a reason to spend more than what's earned. So, there's debt. To rich economies, add to it the fact that they are highly capable of borrowing. They can have massive amounts of debts because of their paying capacity. So, they have the luxury to borrow. But the economy isn't strong all the time. Sometimes it weakens. It fluctuates. And then there are irresponsible administrations that just squander money mindlessly. The end will always be a ballooning debt.

Debt, debt, debt - it's a word that connects with everyone, doesn’t it? It appears to accompany everyone, rich or poor, nation or individual. You make a very compelling and, in many cases, correct point about the relationship between rising wealth and rising costs. Is it unavoidable that prosperity increases expenditure and debt?

Rich economies can borrow because they pay well. They spend, construct, give. Now, is it not risky to assume that spending more than earned is normal? Countries, especially affluent ones, can acquire large debts due to their ability to repay them. Should they always go that way?

Economies vary, and governments can waste money without planning. But shouldn't a strong economy operate with financial prudence, making sure its debts are sustainable and used to boost growth? A tricky balance, right? Balance spending, debt, and giving/wasting.

It's probably not entirely unavoidable, but rich and poor nations and individuals alike are more inclined to borrow than not. To a poor country, to support its needs. To a rich country, to support its dreams.

If a country is debt-free, it can plan to do a whole lot of things. It can be generous in providing tax exemptions to investors. It can provide a lot of free services to its citizens. Hell, it can even try to be powerful and build up a strong and highly-equipped military and join other wars and bully other countries. It can assert influence within the region or the entire world by giving out aids and assistance. It can support other countries' projects and programs.

If you're a president, you probably don't care that your country is debt-free; you care that you left grand projects and programs that make people fondly remember you. Every president's ulterior goal is to build a selfish legacy.

It's indeed tricky to create balance. Regardless, they all borrow. Even the countries with the highest GDP per capita, those that have huge reserves; they all have debts. Luxembourg, Singapore, Ireland, Norway, Qatar all have debts.

[dothebeats]

The United States is a power country, no matter how big the debt is they will be fine. Various smaller countries borrows money all the time, it's nothing new. Besides, what they mostly do is pay off the debt that was possibly due after 10-20 years then borrow again to use it to make more money like investments and projects. As for the situation of the United States, perhaps they will do exactly what they did during the COVID-19 pandemic-- print more money and let their currency take a bit of hit. Will it affect them? Sure, but will it cause their downfall? Certainly not. Hence, if we're talking about huge debt and just how bad it might get for a country we should discuss about developing countries instead of a power country like the United States.

They will not default even if the debt figure increases to millions and trillions of dollars because they control the world's money printing machine and they always use their enormous power to export inflation to the world. But that doesn't mean it could never happen, if their position of power were threatened and overthrown their downfall would be swift. They are not the only empire that exists in this world that never collapses, let's see how long the American empire can last. Everything has a life cycle and the American empire is no exception.

I don't know and I'm not sure where in my reply I said that United States will never fall or the possibility is non-existent. Perhaps you have comprehended it wrongly. All I am saying is it will take more than a bit of currency shift for the United States to fall. Of course there's always the lingering possibility that US will fall, that it will one day lose its dominance over the rest of the world but will it happen overnight? Possibly not, it will take a lot for that to happen. Perhaps you should read my reply and the original post again to see that we're talking about debt here and how it may affect United States and not any outside factors.

[panganib999]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

I will give the answer based on my experience, our country was on the edge of declaring default, we consider it already defaulted but till now, our government has not declared that openly (publicly). Well, we are on the edge of default because of huge debts taken from all over the world. We took most of the debt from the IMF and the debt that we had taken is now less than the interest rate that is on that principal amount.

Overall, the thing is we saved ourselves from this by taking more loans (hehe) and we used those loans not to enhance productivity and provide more jobs instead we used that money to open more schemes that are totally useless.

Well, leave this discussion and the answer to your queries will be that the US has big icons and legends, companies, big tycoons, etc. The most rich people and companies are there. People of the US are so rich and the US has resources that they have gained access to using their democracy slogan (hehe  ), I doubt if there is any need to worry about this thing, as debt can be dealt in a blink of an eye if they really want to solve it.

Don't they also do stupid stuff like taking out a loan to pay off an existing one? I've seen them do this one too many times and if the IMF presses them for this loan they might do this again. Plus what of the government shutdown? Is that because of the debt ceiling not being increased in due time? What's going to happen to the millions of US citizens that are under the government's payroll? And why of all departments is the congress still able to take their paycheck as if they aren't the ones who are at fault here? What's going in America?

Like seriously concerned about what's going on cause I have a few relatives there, and of course the impending recession and economic crash that they will carry with them once things go south.

[ChiBitCTy]

I hope that everyone knows that EVERY single country on this planet has plenty of debt to it's name.  Yes, of course the United States has the highest debt number globally, but there's also a reason behind that..the US is the worlds strongest economy, and therefore are able to pay their debt better than anyone else can, so this is why they are able to continue to build their debt. 

Now I'm not saying this isn't a problem, because it is..but just pointing out why it's so high compared to the rest of the globe.  How are we going to fix this? There's many ways, but the way I see it, the problems are just going to keep getting worse by those whom don't truly care, and only truly care about lining their own pockets...issues then left for future generations.

[Gyfts]

Ways to reduce debt:

1.) Raise taxes
2.) Raise GDP
3.) Reduce spending.

Politically inconvenient to do #1 and #3, so the U.S. could try to grow the economy and generate more revenue.

But as revenue increases, so does the spending. It's almost a never ending cycle.

What can the U.S. do about its debt, then? The answer is not much.

[Renampun]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

Is there a country in the world that has no debt? if you search for it on the internet then you will find it difficult to find a country that is debt free, debts incurred by countries are not like debts incurred by individuals, usually the country's debt comes from exports and imports cmiiw and each country is not forced to pay directly (pay off) their debts in full, that is the reason why every government requires citizens to pay a certain amount of taxes (discussing a country's debt is actually very complex), and bankrupt countries are usually countries whose governments have failed to resolve inflation, deflation and their debts.

[South Park]

We all know that US borrowing heavily. There are a lot of information on US debt on the Internet. Just to make it short, I will ask few questions:

What do you think, how this situation will be resolved? What did happen to any other nations who had huge dept in history? Is there any ways offered by economists to resolve the situation?

Is there a country in the world that has no debt? if you search for it on the internet then you will find it difficult to find a country that is debt free, debts incurred by countries are not like debts incurred by individuals, usually the country's debt comes from exports and imports cmiiw and each country is not forced to pay directly (pay off) their debts in full, that is the reason why every government requires citizens to pay a certain amount of taxes (discussing a country's debt is actually very complex), and bankrupt countries are usually countries whose governments have failed to resolve inflation, deflation and their debts.

I think we can understand that countries must have some level of debt in order to function as unlike a person which may only need to deal with a single currency, governments have to deal with several of them and all kind of regulations, so it makes sense for them to do so, however what is a healthy level of debt for governments which could be doing this? And 20% would seem to be reasonable, however many of the most developed countries around the world have debts up to their eyeballs and this debt is only increasing, then it is clear those governments are indebted simply because they are spending more money than what they get in taxes.

[fuguebtc]

Ways to reduce debt:

1.) Raise taxes
2.) Raise GDP
3.) Reduce spending.

Politically inconvenient to do #1 and #3, so the U.S. could try to grow the economy and generate more revenue.

But as revenue increases, so does the spending. It's almost a never ending cycle.

What can the U.S. do about its debt, then? The answer is not much.

There is no way to reduce the debt of the US government or any government, the debt will increase every year because there will be no effective solution to manage an economy with billions of people and it is still growing up every day. If we talk about solutions, we have advisors and economic experts offering millions of different solutions, but so far they are all only on paper and implementation has never been easy. In my opinion, there is no solution to this problem, Government debt still increases every year.

[Haunebu]

All governments around the world have huge debts which they will probably never fully pay off which isn't a major issue as long as it doesn't annoy the citizens of their respective countries in the wrong way.

These debts are completely different from home loans, personal loans etc which don't last indefinitely and have a particular expiration time.

[Faisal2202]

Don't they also do stupid stuff like taking out a loan to pay off an existing one? I've seen them do this one too many times and if the IMF presses them for this loan they might do this again. Plus what of the government shutdown? Is that because of the debt ceiling not being increased in due time? What's going to happen to the millions of US citizens that are under the government's payroll? And why of all departments is the congress still able to take their paycheck as if they aren't the ones who are at fault here? What's going in America?

They of course do that, and I think, the conditions of the whole US do not solely depend on Congress, but it depends on many other factors, but for instance, all I can say is, that every country is doing something, and does have some plan to get out of that mudhole. For example, I just learned a few things about Taxes in the US (I am not from the US), and was amazed to see how huge amounts do US citizens have to pay on their earnings.

While we don't have to pay that many taxes and taxes have a great impact on the overall, economy of the country if the country has enough funds then they are good and can take the risk, but just to be frank, I will stick to my previous statement that, they do have a plan, and they cannot go down, because they going down will take 10 other countries down with them (by down means, economically).

Like seriously concerned about what's going on cause I have a few relatives there, and of course the impending recession and economic crash that they will carry with them once things go south.

Life is really hard at US and I can agree with that, that's why I don't go there and have no plans. hehe.

[Hispo]

All governments around the world have huge debts which they will probably never fully pay off which isn't a major issue as long as it doesn't annoy the citizens of their respective countries in the wrong way.

These debts are completely different from home loans, personal loans etc which don't last indefinitely and have a particular expiration time.

I beg to differ, though.
Public debt may be not as obvious as private debt, when comes to the impact it can have on individual citizens and residents, though it can make much of a difference in macroeconomics. Let us consider a simple situation, where a country gets into a governance crisis and even though they can replace their leaders democratically, they still would have a big debt, isolating them from international markets.

I am not read much about it, but it is something like Sri Lanka has gone through, they got their leaders off the country because of their incompetence, and yet need to face a bad economy and their debts.

USA has the advantage of being considered the most reliable borrower on the planet, so theycan ask for as much money as they want

[dothebeats]

All governments around the world have huge debts which they will probably never fully pay off which isn't a major issue as long as it doesn't annoy the citizens of their respective countries in the wrong way.

These debts are completely different from home loans, personal loans etc which don't last indefinitely and have a particular expiration time.

I beg to differ, though.
Public debt may be not as obvious as private debt, when comes to the impact it can have on individual citizens and residents, though it can make much of a difference in macroeconomics. Let us consider a simple situation, where a country gets into a governance crisis and even though they can replace their leaders democratically, they still would have a big debt, isolating them from international markets.

I am not read much about it, but it is something like Sri Lanka has gone through, they got their leaders off the country because of their incompetence, and yet need to face a bad economy and their debts.

USA has the advantage of being considered the most reliable borrower on the planet, so theycan ask for as much money as they want

You're absolutely right. Although debts don't have such a big effect or impact on developed countries and their citizens, they can be a problem for developing countries. There are a lot of instances wherein a country that is not as economically established as the US finds itself in various debts that the general public has to make a move to remove various government officials out of there positions. However, in the case of the United States, it is not as big of a problem because of the reputation of the country and the relationship it built throughout the years.

[South Park]

You're absolutely right. Although debts don't have such a big effect or impact on developed countries and their citizens, they can be a problem for developing countries. There are a lot of instances wherein a country that is not as economically established as the US finds itself in various debts that the general public has to make a move to remove various government officials out of there positions. However, in the case of the United States, it is not as big of a problem because of the reputation of the country and the relationship it built throughout the years.

The high debt of the US may not seem to be too big of a deal as the country can still function with some level of normalcy, but even the US has limits, it is not surprising that right now countries with different interests from the US are looking to deal with each other with their own currencies and avoid using the US dollar, and while those attempts do not seem to go that well since their own currencies have even more issues than the US dollar, these are signs that countries around the world are getting worried about what is happening, and despite this information being on the open there is no effort to even slowdown the rate at which the US gets more debt.