Nothing, foreign banks love financing American interests. There will never be a time when America isn't in debt. That means America can't be financed....which...yeah right.
Taxes skrocket ti aoc sanders levels inflation goes up the dollar down n china n japan are happy they own huge $ n can project socialism more here n also for china the yen would gain. Price of gold n silver goes up common sense n national debt bankruptcy fear would be through the roof u think trump came from race bate shh u aint seen nothing til fear of real suppression freedoms 2nd amendment higher taxes in general with a failing economy your asking for boston teaparty 2.0
Honestly I'm not sure. As long as the Federal government has the ability to make payments on the portion of debt that comes due then the lenders will continue to buy US obligations. This can be done as long as the GDP is substantially higher than the debt. However if the national debt becomes too large (perhaps 80% of GDP) then the government will start failing to repay it's lenders. This would be catastrophic for many as the holders of US obligations include pension and other retirement funds. Local and state governments also own a lot of the national debt and if they were not repaid a lot of essential services provided to citizens would cease. Foreign governments and banks (including the FRB) would be highly pissed as well. At this point the Federal government would have to take some draconian measures in order to survive as it's entire Ponzi scheme came crumbling down.
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