This Is What Would Happen If the U.S. Just Refused to Pay the National Debt

If the U.S. refused to pay its debt, the global financial system would collapse, potentially leading to a global depression and unpredictable political ramifications.

The U.S. national debt stands at nearly $36 trillion, which translates to over $106,637 per person in America, indicating an immense financial burden.

The primary reason for the massive debt is that the U.S. government spends significantly more than it brings in, with top expenditures on Social Security, National Defense, and Healthcare.

Congress controls the federal budget, with the President submitting spending requests, leading to a complex reconciliation process for proposed budgets by both the Senate and House.

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