Given the enormous size of public debt (about 13 billion U.S. dollars), which would be the consequences of defaulting on it, and it’s worth a try? Just delete all refuse to $ 0.00 and pretend like it never happened before – to honor a debt.
U.S. investors, particularly pension funds heavily in government bonds (debt).
So if you wipe it, millions of Americans losing the most money they had invested in retirement savings, and many older people in poverty.
The U.S. government would also sell bonds never in a position more if they prove unreliable, as, for who would buy them at risk of losing their entire investment. This would include the land struggle, even in times of war or financial calamnity if necessary.
