This is a good video and a rreal public service because we really really need to educate Americans on this issue and most people have no idea of how government works and about debt and stuff. He ends by saying that it's time to take the credit card away from the government which of course can't be done unless you have a bigger military and more cops than the government does.
This leads me to ask an honest question-since there's no way the US government can ever pay off it's debt, and the only other option according to all economists, is default, what would that actually mean? I mean, say the US tells China and the rest of the world who bought US debt, "Hey, you fucked up...you trusted us. we can't pay you back." What is the rest of the world gonna do? I mean, the US has the world's mightiest military, its not like they can come and repo North Carolina or California or something. So what if we default? What's yal's opinion?