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Well, it may seem slumbering at the moment, but what happens if some of the creditors ask their money back? All of a sudden the US can't foot the bill and yes, countries can go bankrupt.
It just isn't good for your economy to have the image of somebody who wants things but can't pay for 'm. And paying by printing new money is something Germany did in the 1920's and we know what happened to them.
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