How does a society sustain itself when 40% of its tax revenue goes to interest payments on its debt? .
Easy. Create hyperinflation by printing money out the wazoo.The new dollars are extremely devalued, and so you are paying back only a fraction of what you borrowed.Of course, it really screws your lenders, and nobody will ever loan you money again, and you become a third world nation. But hey...details.
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Easy. Create hyperinflation by printing money out the wazoo.
The new dollars are extremely devalued, and so you are paying back only a fraction of what you borrowed.
Of course, it really screws your lenders, and nobody will ever loan you money again, and you become a third world nation. But hey...details.
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