That&#x27;s a terrible argument.<p>You&#x27;re talking about public debt, which is a small fraction of all US wealth holdings (household + corporate + government), and can be trivially managed. Further, unlike a lot of countries, the US has significant spare taxing capability (it rests in the middle tier globally on taxation). The US could easily raise $200 billion in new annual income taxes on the top 25% and not miss a beat - that single move alone would handle any potential issues from the public debt cost. Or better yet: the US can constrain its spending growth (as it has been), allowing income and assets to continue to outrun the problem.<p>And of course the US owns the global reserve currency, which enables it to export inflation to the rest of the world as a means to reduce the domestic hit of things like QE (which is why the Eurozone&#x27;s QE hasn&#x27;t been as effective). When the US uses the dollar to improve its fiscal circumstances, the rest of the world foots a big part of the bill. While that&#x27;s sort of like cheating, it&#x27;s an advantage the US possesses that nobody else does.