No one serious is worried about American solvency. The paper says 50% over the next 10 years, but even most economists misunderstand how the monetary system works.

There are so many other issues to worry about at the moment more immediate than solvency.

>> There are so many other issues to worry about at the moment more immediate than solvency.

The U.S. government spends about one-third! (roughly 33% to 39%) of individual income tax revenue strictly to pay the interest on the national debt and that is not even paying off the principal balance itself:

https://budget.house.gov/imo/media/doc/cbo_baseline_february...

A raise in interest rates for treasuries, can bring this into 50% to 60% within days.

Yeah...worry about other things...

The word in the headline “solvency” versus the phrase in the article “debt crisis” is a major difference.

To your point, I don’t think anyone has to be worried about American solvency, but a looming debt crisis doesn’t seem like a stretch of imagination at all.

Our creditors will be reliable because of American soft power. Do you think we could lose that in single presidential term, much less a year?

Wait...

> but even most economists misunderstand how the monetary system works.

It seems to be more of a subjective topic to me. Otherwise we would all have a perfect plan and never any monetary concerns. Highlighting weak links in the system is I believe a perfectly healthy thing to do. A sanity check would go a long way these days.

Tell that to the Romans.

When enough non-"serious" people believe it, they still sell the bonds, and shit can hit the fan pretty quickly.

The US ticked all the boxes that are credited with the break up of the USSR last year aiui.

Anyone not taking that seriously is in for the most hilarious of surprises.