[mindslight]

Talk of "financial alarm" for a government with monetary sovereignty is specious. It will mislead you into analyzing government finances as if they were household finances, whereas governments use newly created money rather than going bankrupt. And for our government, this really just means less newly created money going directly into private pockets.

It's only this martingale of the "Federal Reserve" neutering the government's own monetary sovereignty that has even allowed for this "debt" narrative. The part of government debt that is owed to private parties is essentially savings accounts for institutions and other countries who believe that USD will hold future value better than other assets. The other part of the government debt that is owed to a different branch of government (Federal Reserve) is nothing more than a sham accounting measure to support the political martingale.

The actual threat is the global demonetization of the US dollar because the US is no longer in a leadership position when all of our industrial, scientific, military, foreign outreach, law enforcement, etc institutions have been destroyed. It won't matter whether the "budget" is balanced if/when foreign countries are offloading US Treasuries. That's the real threat, and "our" "leadership" is now in the process of outright facilitating that destruction.