The money is still owed to bond holders though. It's not their fault the gov chose to waste their money.
If you borrow from a bank, but then say it was wasted on fraudulent things, they still gonna want the money back with interest.
US Debt is unsustainable
- Thread starter pmbug
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If you borrow from a bank, but then say it was wasted on fraudulent things, they still gonna want the money back with interest.
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US Interest Costs Hit Record $1 Trillion, Risking Debt Snowball
The US government’s debt interest burden reached a record high for fiscal 2026, eating up a growing share of federal revenue and risking a snowballing of borrowing that could leave the country more vulnerable to economic shocks.
finance.yahoo.com