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Credit would freeze, property especially and oother debt dependent markets would drop heavily. But they won't default yet, just continue to borrow and inflate (a delayed consequence of printing) while there are still buyers.
US cannot resolve this and default on their loans.
so if US can't default, why did they default in 79? what changed now to stop the repeat of that?
amendment 14, section 4 of the US constitution says that treasury has the right to print money independent of any bank to pay its dues as needed.
they physically cant default if they tresury has the guts to print independent of the Federal Reserve.
The debt-ceiling crisis in 2011 raised the question of what powers Section 4 gives to the President, an issue that remains unsettled.[154] Some, such as legal scholar Garrett Epps, fiscal expert Bruce Bartlett and Treasury Secretary Timothy Geithner, have argued that a debt ceiling may be unconstitutional and therefore void as long as it interferes with the duty of the government to pay interest on outstanding bonds and to make payments owed to pensioners (that is, Social Security recipients).[155][156] Legal analyst Jeffrey Rosen has argued that Section 4 gives the President unilateral authority to raise or ignore the national debt ceiling, and that if challenged the Supreme Court would likely rule in favor of expanded executive power or dismiss the case altogether for lack of standing.[157] Erwin Chemerinsky, professor and dean at University of California, Irvine School of Law, has argued that not even in a "dire financial emergency" could the President raise the debt ceiling as "there is no reasonable way to interpret the Constitution that [allows him to do so]".[158]
Seriously nobody knows how to solve America's debt. They keep printing more money to worsen the debt.