First of all, your ownership of debt numbers are still wrong, but let's set that aside.Peter Brown wrote: ↑Sat Jan 11, 2020 4:51 pm If you add the debt held by Social Security and all the retirement and pension funds, almost half of the U.S. Treasury debt is held in trust for your retirement. If the United States defaults on its debt, foreign investors would be angry, but current and future retirees would be hurt the most. So what do you do? Maybe offer in exchange some form of social security replacement vehicle. My guess is something needs to be done and will. I’ve heard some fascinating ideas at some events. We will surely figure it out.
What you are suggesting is that we intentionally default on a debt by swapping that debt for......what, exactly? We have to give up something of value to another country...what could you possibly imagine that to be?
And you understand that no one will want to lend us money anymore if we follow this advice of yours right? So the day we default...we can't borrow anymore. So....what do you suggest we do to keep the lights on in America when that happens?
Wouldn't the easier path be to simply pay our fair share of taxes, and stop borrowing money for no reason other than we have Americans who don't want to pay their tab?