"Wes" wrote in message
...
"Ed Huntress" wrote:

The day the US cannot borrow more money is the day that the US
defaults.

NO! The day we can't make an interest payment on the publicly-held portion
of the national debt is the day we "default." But we print the money. So
we
can't be forced to default. Hello? Are we getting through now?


Then there is the simple matter of you just try to invade our country and
grab an asset.
I'd be more worried than a texas repo guy picking a car up at night in
Texas.

Wes

All of these scenarios are for illustration purposes only. g The
consequences of even approaching those situations would be so grave for the
world's economies that no one is going to let them happen.

Most people wildly overestimate how much of our national debt is owed to
foreign governments, banks, and individuals. When you see the numbers and
see how they relate to small swings up and down in our growth rate, you
realize that we're being victimized by our own paranoia and by the press's
need for high drama.

What it shows is that getting the economy growing again is the answer to
most problems. Screw the deficit for now; if we can't get the beast moving
again, a balanced budget will mean nothing. It will be the equilibrium of
the dead.

--
Ed Huntress