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Comment by mikece | Hacker News Reader

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It's very different from normal entities being in debt, and likely not the same decision makers involved as those discussing software practices.

Of course its very different than normal entities being in debt, since the government is ostensibly an arm of the people, who's income comes from taxing the populace.

But it _is_ still debt right? It is still money owed. It is still money that was spent by the government by taking loans and promising to pay back those loans, again on behalf of the people.

Once in a while, might be worth questioning who they borrowed the money from, what they spent it on, and who they chose to spend it with. Rather than just blindly repeat the pithy line, "but its not the same as regulars people's debt".

The fact the gov can go 34 trillion in debt and a normal Joes Garage can't is actually pretty obvious to people already.

The debt amount is so surreal that you mixed up the units (it's 33 trillion not 33 billion) and also you missed an entire trillion dollars (it's 34 trillion not 33 trillion) or maybe it just went up by a trillion since you wrote that message.

You're right... I meant trillions. Geez -- the numbers are almost make-believe at this point.

They are make believe. The number isn't real. Because if they default, so what? Nothing truly dire will happen, because they still have the ability to project a fantastic amount of force anywhere on earth.

You realize the US is also continuously making good on its debts, right? While the gross number grows, it isn't the same debt outstanding.

That's not particularly impressive. Anyone can take out a new loan to cover an old loan.

Actually, people who give out loans tend to give them out to people who they think can pay them back. You or I can't just stack loans for decades.

Fundamentally due to interest - you have to pay back people more than they gave you. So just stacking loans to pay loans isn't sustainable. And the US observably does way more with the "loans" they take out than just pay back other loans.

Put another way - if you buy a T-Bill (or other US-backed security aka a source of this debt), what is your confidence that you will get paid on time? I'm assuming very high. But if the US's debt was unsustainable, at some point the house of cards has to come crashing down, right?

Yes it issues a new bond/note to pay the one that is expiring. What is your point?

And people keep buying them (loaning the US money)..and get interest paid in full.

And the US does more than just pay loans back by taking out other loans.

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