Reply #35: True as political will - but disagree as to full faith and credit not [View All]

[papau]

applying to Trust Fund assets.

There is no way to default on only part of the National Debt.

The Japanese investors is the country of Japan which will be redeeming those bonds to fund its own need for cash to pay its retires.

Ironic? Old folks pensions in Japan and old folks pensions in the US backed by same investments. Yet no problem raising FIT to pay pensions for old folks in Japan - but in US we have a crisis if we pay - via a FIT tax increase - to redeem those bonds to get cash to pay US old folks.