The US could pay its debt tomorrow, in full. We'd like to avoid that shock, if possible, but there's nothing uncreditworthy about running a fiscal deficit.
USG revenue/spending should be reasoned about in terms of the resources it directs, and the resulting effects on US and world GDP. Everything else is just accounting.
USG revenue/spending should be reasoned about in terms of the resources it directs, and the resulting effects on US and world GDP. Everything else is just accounting.