U.S. actually could pay off its debts but it doesn't because it is not necessary. Compared to many other countries the U.S. isn't that far it debt because its not the debt in $ that matters its the debt compared to the GDP.
http://www.usdebtclock.org/world-debt-clock.html
http://www.usdebtclock.org/world-debt-clock.html
That is propaganda, DEBT/GDP ratio doesnt matter a jackass.
What matters is the central bank reserve/balance sheet ratio. And there you see a 77:1 leverage according to recent data.
If you were to substract the debt from the GDP then you`d get really screwed up because the amount of unemployment that will result is horrific.
So the CB is the primary responsible for the debt, but still eventually the debt will be paid off by the GDP.
I dont think the fed can run this ponzi scheme any longer, many economists say that Q2-Q3 of 2015 will be the reckoning day, probably when they`ll announce that instead of rate hike you`ll get QE4.
So the FED is pretty much overleveraged, they lied about "more conservative debt policy in 2008" when they said that they`ll reduce the leverage. Yes they probably did reduce it from private banks, but the FED itself embraced it now. So instead of private money being at risk, now they put tax payer money on the risk, very very good policy what can I say.
