[makestuff]

I always see people say the national debt doesn’t matter because it isn’t like household debt. However, I just fail to see how that is true. At some point the can won’t be able to be kicked down the road anymore. I guess everyone is hoping that it won’t be during their lifetime.

[admax88qqq]

Because fundamentally the US government can print money to pay US debt.

You can't print money to pay off your household debt.

It's a different beast altogether subject to entirely different rules and incentives than household debt.

[fwungy]

Yes, and we the taxpayers get the privilege of paying interest on the money that is printed based on our nation's creditworthiness.

The debt can never be paid. It's by design.

[fundad]

With tax revenue on growing wages.

[joemazerino]

Printing money results in inflation. That was my original point.

[admax88qqq]

My point is just that national debt is more complicated than household debt. And every attempt to reduce it to household debt is flawed. They are fundamentally different.

[lmm]

> At some point the can won’t be able to be kicked down the road anymore.

No country other than New Zeeland bothers to properly account for the asset side of the national budget. Increasing liabilities is fine if there's a corresponding increase in assets. But most countries are basically guessing about the second half. (This is also why we see so many wasteful privatisations where national assets are sold off for way less than they're worth)

[InTheArena]

People still hold to Soviet style, Socialism/communism, why would you be surprised if they’re still holding on to modern monetary theory?