People are worried about America's solvency
https://news.ycombinator.com/item?id=49329347
Wondering what people think about this. The original Financial Times article is paywalled, of course, but for those who don't know, the autistic nerd-ghouls of Hacker News are the most hysterical people anywhere on the planet about US debt. There are articles about it on a daily basis, despite it being ostensibly a computer programming site. And since these are Silicon Valley computer nerds, everything they say is reflective of the opinions of the American ruling class elite.
According to them, America is permanently on the verge of default, which will happen any day now. And, if you point out that the US issues its own currency, they will say the value of the dollar will all be inflated away in the manner of Weimar Germany, Zimbabwe. etc.
I don't think any of us think the debt is high for any good reason--billionaires are getting tax cuts while the safety net is being eviscerated. But the idea that the US can be insolvent doesn't make sense to me. Thoughts?