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<p>[QUOTE=&quot;InfleXion, post: 1218549, member: 29012&quot;]This would be all fine and well except that a lot of our debt is owed to China. I suppose we could just pay off our other debts by borrowing from the Fed which is sort what is going on anyway (more so indirectly by making existing dollars less valuable so the ones that are paid back are less wealth parted with), but if such an act was done in totality it would devalue the dollar very quickly, and make our assets undesirable by the international community if not potentially kill our status as the world reserve currency . Although it seems China is just as debt ridden as everybody else so I&#039;m not sure they will be supporting US debt much longer anyway, especially with their recent foray into the Euro.&nbsp; </p><p><br /></p><p>If you ask me the problem is corruption, fiscal irresponsibility resulting thereof, and lack of enforcement of known longstanding rules that keep things in check. When failed business models are rewarded with tax payer dollars, the executives of which are homogenous with our lawmakers, and those involved are cheating the system it makes it very difficult for a true recovery to happen since everyone else who is actually producing instead of vampiring is at a disadvantage. Unless this is resolved it won&#039;t matter whether we pay off the existing debt or not, in any manner, because it will just happen all over again.[/QUOTE]</p><p><br /></p>

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