/biz/ - Business & Finance

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>>18473239
That's where you are wrong. The national debt is sold in the form of treasuries that anyone can own, including foreign countries. Yes, in theory, we owe it to ourselves and can technically make a portion of that debt vanish without repercussions. But in doing so, we now owe a whole lot more interest on the bonds at the very least on the remaining debt because it is more in demand. Theoretically, which some economist have ran thought experiments on, you have effectively devalued your currency theoretically because your debt has been absorbed and it is effectively the same as printing money and causing inflation.