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Buyer Beware... If you're non-American, think twice before purchasing from the US

@Rockdiamond, Please know you’ve also gained a lot of respect from people here thru your posts.

Yep. I wish we could all go out for a beer!
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Very complex answer to the question. It actually wouldn't be good to eliminate all debt, in fact.
Start reading about the differences between gov't and individual debt to begin.

Generating revenue helps. It's not the pat answer. There are no pat answers.
Close all tax loopholes and increase taxes on the rich to post war II levels, for one. Cut military spending would help.
From the trusty AI:
Government debt, unlike personal debt, is the total amount a country's government owes to its creditors, while personal debt is the total amount an individual owes to their creditors. Governments can borrow to cover deficits, and their debt can affect interest rates, benefit programs, and potential tax increases, while personal debt impacts an individual's financial situation.


All the money the "rich" have in this country applied to the debt of this nation would be the equivalent of the size of a fly against a horses rump. The debt is way past the amount the "rich" possess. I wonder who would be considered rich, that is a very subjective decision.

I know the difference between personal and government debt. One can file bankruptcy and start all over, the other can lose the value of the dollar and collapse the system. The more money printed to cover debt, the more inflation and eventual lose of the dollar value.

Our government has borrowed plenty of money and the interest payments alone will become impossible to cover if significant changes aren't made starting now.

Agree cutting military strength would help but is that wise for our country?
AI:
By sheer number of ships, China's People's Liberation Army Navy (PLAN) has outbuilt the U.S. Navy, with the PLAN having approximately 370 ships compared to the U.S. Navy's roughly 291.

I would love to be able to cut defense spending but I don't think it's practical to do so.
 
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