When you're running deficits > $1 trillion, you should ask how we can pay for a bunch of new stuff. Instead, you should ask how we're going to pay for our current stuff. No one does that.
They blithely assume that we can spend whatever we're spending now PLUS a buttload more. The funding problem is simply handwaved away.
I, for one, will laugh my ass off when simply servicing the national debt takes up all discretionary spending. Just borrow more amirite?
Of course, we are NOT good for it. There's simply no way to repay the debt. Raising taxes won't do it. It's not possible. Nor would confiscating actual property from people. Hey, there's a lot of money sitting in 401k and IRA accounts, right?
Some of you right now are saying "Pshaw, that would never happen." I will grant you that it would lead to civil unrest, but the greedy and math challenged tend to be stupid as well.
Solution? Nothing anyone wants to hear, which is why, sooner or later, we'll default on the debt. That will...not be good. But what cannot go on forever, won't go on forever.
