A country that controls its currency can always bail itself out of all debt by printing all that money. Now they would destroy their whole economy in the process because of inflation and countries being mad about a country doing that. If they don't pay and default they kind of also piss everyone off and that makes the curency rates fall as well. In that case they would repay as much as they want really, the price for not doing that is economy strengt. The dollar could lose the global currency status either way, fun!

It's literally impossible to default as you can simply emit new money and buy back the debt or pay the interest with the minted money.

Of course this comes with its own set of gigantic issues, likely triple digit inflation and hardship to raise money for generations.

But US can't default really.

If only we had more foreigners telling us how to run our country.

Both parties are equally incapable of making any cuts because it's not popular, and it's just a popularity contest on both sides, no real substance. It's been this way for a while.

Ds spend just as much as Rs.

I don't understand that at all. The deficit has been running rampant ever since Clinton left office. Both sides spent with reckless abandon.

They'll raise taxes and cut spending to achieve it and everyone will get really angry and elect a Republican next time. The cycle continues.