[triviatise]

the 20T will have to be paid back. Unlike personal debt the fed can just print the money. There is currently around 6T in existing money supply (though I havent checked recently).

The question is how will the debt translate to increased money supply over time (inflation).

[dragonwriter]

> Unlike personal debt the fed can just print the money.

A part of why the Fed (and the same is generally true of independent central banks generally) exists (and why the Fed system is comprised of large private banks) is to provide a check (and, more important, confidence among lenders) against Congress simply monetizing the debt by separating the locus of decision making for monetary policy from that for fiscal policy.

[tim333]

Historically that often doesn't really happen with such debts. Instead the debt falls a percentage of GDP due to GDP growing, at least in nominal terms.

[ric2b]

It is happening, though. Especially now with tax cuts and increased spending.