How long until US default?

[Eugene]

Let’s say that I lease an apartment for $1000/month and I intend to continue leasing it for the next 100 years and pay as I go, out of my future earnings. Does it mean that I have $1000 * 12 * 100 = $1.2 million in debt?

the $1000 you pay today is revenue, but the $1000 future obligation is not reported as a liability. That $1000 is not added to the national debt.

$1000 I pay today is reported as revenue, $1000 paid to current retirees is reported as expense. Sounds fair to me.

[stockstradr]

US cannot and will not default on its debt. That debt is denominated in US dollars and we own the printing press.

this is absolutely correct!

Also, esmith is completely correct that inflating our way out of debt is NOT the same as defaulting on debt.

[stockstradr]

US cannot and will not default on its debt. That debt is denominated in US dollars and we own the printing press.

this is absolutely correct!

Also, esmith is completely correct that inflating our way out of debt is NOT the same as defaulting on debt.

[stockstradr]

US cannot and will not default on its debt. That debt is denominated in US dollars and we own the printing press.

this is absolutely correct!

Also, esmith is completely correct that inflating our way out of debt is NOT the same as defaulting on debt.

[stockstradr]

US cannot and will not default on its debt. That debt is denominated in US dollars and we own the printing press.

this is absolutely correct!

Also, esmith is completely correct that inflating our way out of debt is NOT the same as defaulting on debt.

[stockstradr]

US cannot and will not default on its debt. That debt is denominated in US dollars and we own the printing press.

this is absolutely correct!

Also, esmith is completely correct that inflating our way out of debt is NOT the same as defaulting on debt.

[yojimbo]

It may not be exactly the same but the end results are pretty darn close.

[yojimbo]

It may not be exactly the same but the end results are pretty darn close.

[yojimbo]

It may not be exactly the same but the end results are pretty darn close.

[yojimbo]

It may not be exactly the same but the end results are pretty darn close.

[yojimbo]

It may not be exactly the same but the end results are pretty darn close.

[peterb]

Countries that actually default experience much greater economic pain. Inflating out of the problem is a far better solution and basically acceptable in the world community. Kind of a game.

[peterb]

Countries that actually default experience much greater economic pain. Inflating out of the problem is a far better solution and basically acceptable in the world community. Kind of a game.

[peterb]

Countries that actually default experience much greater economic pain. Inflating out of the problem is a far better solution and basically acceptable in the world community. Kind of a game.

[peterb]

Countries that actually default experience much greater economic pain. Inflating out of the problem is a far better solution and basically acceptable in the world community. Kind of a game.

[Author]

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