The Fed will keep printing dollar to keep their balance sheet under controlled. The debt ceiling will be raised again and again. At least they can make the creditors believe they can pay back when due.
Exactly. Debt will always raise faster since we have to pay the federal reserve interest for every dollar printed. This means that we can never, ever pay off our national debt. If the debt ceiling is ever truly capped, then our economy collapses and becomes crushed under the debt (there will always be more debt than actual dollars). This is why the US credit rating is under fire every time there is even discussion about "not increasing the debt ceiling".
The reason why we are unable to pay off our national debt now is because we are running a budget deficit (spending more money then the government is receiving in tax revenue), once the government starts to run a budget surplus (spending less money then receiving in tax revenue), then the national debt will be able to start to get paid off.
Are you sure that you are not just repeating government-sponsored tax myth? The government has many income streams...
You understand completely the national debt? Is that because you are an expert?
A complete government and (taken over by government) syndicated news media blackout has existed for over 60 years, DUE TO THE MONEY INVOLVED!
http://cafr1.com/GovernmentDebt.html
More about the media cover-up:
http://cafr1.com/knowthescore.html
Our debt could never be paid off in USD. The US Treasury borrows money from the federal reserve bank of New York and pays back an interest rate. Only way to pay back the interest is to borrow more money from the fed. It is a perpetual debt cycle, it can never, ever be paid off.
