In response to:
Historically, when governments face such debts, they resort to debasement of the currency to relieve them of the economic burden of the debts. This has the added benefit of not, technically, defaulting. Nonetheless, such inflations wipe out the middle class and damage the upper class. The lower class? Not so much. They don't have a lot of financial assets to lose. However, Greece does not have this option while part of the Euro. But ignore Greece for a moment. Is not inflation, eventually, the only road open to the U.S.? Can we repay these debts without debasing the currency?
- Why won’t the White House explain how off-budget ObamaCare money got spent? Ed Morrissey 44 minutes ago
- Are bans on high capacity magazines constitutional? Jazz Shaw 2 hours ago
- Quotes of the day Allahpundit 13 hours ago
- EPA exonerates Christie administration in obscure bridge-related offense someone made up Mary Katharine Ham 14 hours ago
- California energy companies are getting the heck outta’ dodge and moving to Texas Erika Johnsen 15 hours ago
- CNN poll: 58% oppose abortion in most or all cases Ed Morrissey 16 hours ago