DreamKing
Honorary Master
Debt is not a bad thing, as long as servicing it is feasible/profitable.
sure, as the debtee, it is not a bad thing.
US$ is a product to export all over the world. the fools are using their valuable products to exchange the worthless paper. if the position of the world reserve currency was lost, US will die immediately.
If you were to increase tax in order to pay back all the debt quickly, you'd stop it from being invested back into the economy/slowing down growth, which is why the debt was taken in the first place.
you mentioned about "increase taxes" to solve the problem, but it won't, the taxes are not enough to cover the interests and the expenses of the current leftist government. it will only create more job losses and loss of tax revenue. that is.