I can't see any alternative. Many other nations have done this, from the 1920s until now. Governments, ultimately, do not pay their debts.
But the US is a superpower. It would cause much turmoil, and the US dollar will no longer be the world's reserve currency.
Write downs and/or defaults are never happening.
The alternative and certain future is spending freezes, tax hikes and inflation.
No reasonable substitute for the dollar even exists despite the insanity.
The winner of the dog show is still a dog.
The present USA has the same Debt/GDP ratio (125%) as the country had at the end of WWII.
Of course, at the end of the WWII, Federal Govt sharply reduced its expenditures. At the same time, the Federal Reserve kept interest rates low, so inflation ate away at the nominal debt. At the same time, by 1956, Eisenhower had balanced the Federal budget. The national debt finally dropped to about 25% of GDP in 1980 - 35 years later
Its now very different from 1956. In 2024, we have not fought a world war, the world is slipping out of America’s control, Washington DC is controlled by neo-marxists and kleptocrats, and Americans are hooked on welfare and government spending of all forms. There will be no fiscal discipline whatsoever.
The likelihood is for very high inflation, until some sort of jarring social/political either starts us on the road to discipline, or finishes off the Republic
Is there any other way to write off 100s of trillions in debt?
If I recall, maybe 20 or more years ago, the Mexican economy collapsed. The Greek economy was in serious trouble a couple years ago. Both countries are still around. What did they do? What will we do?
The USA did it to the Soviets.
Today, our Bolsheviks are doing it to the USA.