re: #176 engineer cat

also - and somebody check my arithmetic - since the normal percentage of the annual federal budget outlay spent on debt service is about 6%, and the united states never seems to pay down the principal, the amount due on the national credit card per year would be $2,292. however, this hypothetical family only has an income of $21,700, and the median family income would be around $55,000 - so, a more realistic estimate of the impact of the debt on our national family budget would be more in the $9,000/yr range, which would make it considerably less than typical mortgage + credit card operating expenses for a family

Actually the US does pay off the principle. See, one of the places the analogy breaks down is that the debt isn’t “a” credit card. It’s a bunch of credit cards and other loans. We borrow, we pay them off, we borrow more. We do it on a constant cycle - but we pay every single one of them off, on time.