[curiosity]

Suggest you do some research regarding USSR and debt.

I have. Our situation is not comprable. Most of the USSR's liabilities were in the form of dollar-denominated debt borrowed from the West, and they were massive. Our actual liabilities (Treasury securities outstanding) are easily manageable.

Russia's promised retiree obligations were small. Ours are large. Thankfully, we can reduce ours without creating an event of default.

Russia's workout was very simple in retrospect. Ours? I don't know.

The point you seem to be missing is WE DON'T NEED A WORKOUT. All we have to do is reduce social security and medicare benefits, and we don't need the consent of the beneficiaries to do that. It's true, they get to vote, but so do all the people footing the bill, and there are more of us than them.

[TruthConquers]

There are more people EATING AT THE TROUGH than are paying for it. And there are MORE of them than us who pay.

[PeterPrinciple]

The point you seem to be missing is WE DON'T NEED A WORKOUT. All we have to do is reduce social security and medicare benefits,

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In isolation maybe, but when combined with everything else, don't think so but will happily be proven wrong.........