Hudsonvalley82
Well-Known Member
That nice strong dollar would do wonders to out export industry!
Well, it is my understanding that 3 trillion dollars of it is IOU's to the social security system.
The rest of the hundreds of trillions is promises in benefits from social security, medicare, medicade, employee pensions, etc...
Alot of the debt is held by private companies who have bought those governnment bonds.
Defaulting on some of it might happen but all of those dollars are promised to somebody and the money we cut is going to have an effect.