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?
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