I think you're missing the elephant in the room wrt the US deficit. Why does it exist in the first place?
Consider fictitious country "G". Their government creates currency for the people to use. The currency is issued to people when they perform labour. For the sake of simplicity, let's say each person is given 1M (M = moni, the currency of country G) for each hour of work. At the end of each day a worker may have 8M. That money is his, it's not a loan. He can now use that to buy other services, like food or shelter. There is no debt. The M has actual backing (labour) and is valuable and pretty stable.
Now let's take country "U". Their government doesn't create currency. They have outsourced the money creation to a private club called "I" (I for Idiotic). When someone does work in U, the goons in government (gig), ask "I" to lend it to them, they give the borrowed money to a big bank, which lends it out to an employer, who pays the worker 1D (D = dumb). All this is done at interest and the loans have to be paid back. Ironically, "I" doesn't have anything that they lend out, they just create what they lend out to the government of U on the fly by an accounting entry. The worker at the end of a day has 8U, but it doesn't belong to him, it has to be paid back, with interest by the employer to the bank, which has to pay it back to "I". If, by sheer will and tenacity such is loan is paid back, the people of U have nothing again and the process has to be repeated. Since the repayment of the loan is always more than the original loan because of interest, it is impossible for U to ever pay back their loans, unless they borrow more.
Any primary school child can probably point out that country G is much better off than U, even if U has a booming economy for a while. U lives in a bubble that bursts at regular intervals and then the problem is recreated on a bigger scale.
Any marginally intelligent child could also point out the solution. U can simply let the scammers at "I" go fly a kite, shut the idiotic process down and issue their own currency. It will immediately solve the deficit problem (the debt will vanish into thin air since it doesn't really exist in the first place), but the people of U will have to rework their system. All the hedge fund managers, most of the banksters, and whole lot of other parasites will have to find actual gainful employment or become manufacturers.
Because the monetary house of cards collapses, a lot of other things will to change as well, like the ending of "investments" of foreign entities in utilities for example. If sure there are many more to add to the list.
I think you're missing the elephant in the room wrt the US deficit. Why does it exist in the first place?
Consider fictitious country "G". Their government creates currency for the people to use. The currency is issued to people when they perform labour. For the sake of simplicity, let's say each person is given 1M (M = moni, the currency of country G) for each hour of work. At the end of each day a worker may have 8M. That money is his, it's not a loan. He can now use that to buy other services, like food or shelter. There is no debt. The M has actual backing (labour) and is valuable and pretty stable.
Now let's take country "U". Their government doesn't create currency. They have outsourced the money creation to a private club called "I" (I for Idiotic). When someone does work in U, the goons in government (gig), ask "I" to lend it to them, they give the borrowed money to a big bank, which lends it out to an employer, who pays the worker 1D (D = dumb). All this is done at interest and the loans have to be paid back. Ironically, "I" doesn't have anything that they lend out, they just create what they lend out to the government of U on the fly by an accounting entry. The worker at the end of a day has 8U, but it doesn't belong to him, it has to be paid back, with interest by the employer to the bank, which has to pay it back to "I". If, by sheer will and tenacity such is loan is paid back, the people of U have nothing again and the process has to be repeated. Since the repayment of the loan is always more than the original loan because of interest, it is impossible for U to ever pay back their loans, unless they borrow more.
Any primary school child can probably point out that country G is much better off than U, even if U has a booming economy for a while. U lives in a bubble that bursts at regular intervals and then the problem is recreated on a bigger scale.
Any marginally intelligent child could also point out the solution. U can simply let the scammers at "I" go fly a kite, shut the idiotic process down and issue their own currency. It will immediately solve the deficit problem (the debt will vanish into thin air since it doesn't really exist in the first place), but the people of U will have to rework their system. All the hedge fund managers, most of the banksters, and whole lot of other parasites will have to find actual gainful employment or become manufacturers.
Because the monetary house of cards collapses, a lot of other things will to change as well, like the ending of "investments" of foreign entities in utilities for example. If sure there are many more to add to the list.
Does that make sense to you?
Thank you for the Financials update...
I follow on YouTube Lena Petrova, who despite her Russian name and face appears to be a(n apparently) perfect British-speaking American...
->https://www.youtube.com/@lenapetrova/videos (You can select a video. Newest on top)
She also has a Substack.
Also mainly on BRICS news, because she gives Geo-Economics lessons. And BRICS is hot news in that branch.
So i happende to know the difference and relation between Debt and Deficit...
Both of which i have evaded to meet in my own life...
Sander