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Anyway the debt is actually useful to a point. Even if we could pay off the debt we shouldn’t. The entire economy to some extent works because the US has debt. Our debt instruments are the basis for safe investment. Without this debt people couldn’t buy the zero risk debt that you need to have an economy and people to invest and save safely.

You are making Alexander Hamilton’s argument, with the exemption of without debt no one will lend you money because if you don’t have debt you are not worthy of being lent to. John Adams who opposed Hamilton…Hamilton conspired against him in the electoral college of the day with innuendo of French collusion…found this out when he went to borrow monies from the Dutch to fund the revolution. Adams was a lawyer and Hamilton was an investor/speculator. We all know how that story ends.

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