Can the USA go into more and more debt forever?

According to LSU's flamboyant, clothes-matching Econ 2030 professor, yes.

Lol what was that guys name? Looked like peter griffin, personality of Jim Cramer

Believe he was referring to how his tax plan would increase the national debt, unless the "voodoo" economics works

One of the problems is the amount of debt held by US Citizens. A default would be like the great depression in the 30s.

The government can also cover debt by printing money, kind of.

We really just need to slow the increase in debt. If we can get out of some of these wars and get the world to start paying us to defend them it would help. The social spending we be helped when we get over this baby boom bubble in about 20 years.

We can't pay what we owe now without a lot of pain. Greece situation or worse. Politicians won't allow it to happen until the market forces it. The Chinese could dump government bonds and cause this at any time. They'd just have to be willing to eat the loss on the bonds they hold. Research the Russian involvement in our CMO and derivatives induced housing crash if you want to see how it can be done.

China has been selling to support the renminbi/yuan you are coorect. They still hold over 1 trillion dollars worth of our bonds as of year end. I personally think a sell order of that size would do us sizable damage. I don't watch much news.

There were no bidders for the CMO derivatives that wrecked the market and broke wire houses that had been here a long time. Where were all our foreign friends then? Sure somebody will bid on the bonds but at what price. At some point in time there will be a market cleansing of our debt. It's the only way out. We are not willing to take the pain to pay it thru austerity measures. At some point the dollar will lose alot of value or we'll hyperinflate or both. I'm 57 I doubt it happens in my lifetime but at some point it will happen. China holds 1/6 of our bonds held by foreign govs.. That's alot. As a side note I still can't believe that Aramco is allowed to 100% own and operate Motiva. If that isn't a national security issue I don't know what is. You may gather I don't have a lot of faith in our gov. and you'd be correct.

You're right there's a difference but to me there are similarities too. Who would've thought we could have a debt crisis that broke Lehman Bros, GM, and Chrysler among others. I didn't see it coming for sure. To pay our debt back we'd have to raise taxes pretty substantially and cut spending drastically. I just don't see that happening. Please don't take me wrong I don't mean to be contentious but I do disagree with you. In my lifetime Eisenhower I believe and Clinton are the only Presidents to preside over a balanced budget. I just don't think that bodes well for our future and I don't see it changing.