in order to END THE DEBT, we must convert to an interest-free currency and end the use of debt by government. This will allow us to return to a balanced budget in which spending is covered by taxation and NO spending is hidden from taxation. Until this is done, there can be no reduction in the risk of default on our debt and debt will not be “stabilized”. Other solutions simply delay this default problem but risk simply becomes more difficult to manage as debt continues to grow.
And remember, this sovereign debt debate is about the people, not the government. It is about protecting the people from the risks of debt and overspending by government.