Dan Myers in a recent letter to the editor (The Daily News, Jan. 8) wants to know, "What then?" when the national debt becomes too huge to maintain and everyone defers on tax obligations.
What happens is bankruptcy usually occurs and all our creditors take it in the shorts. Then our credit rating suffers and goes in the toilet. After that, everyone has a hoarding mentality and the value of our currency goes through the floor. No commerce or trade happens and we are looked at as a commercial pariah.
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