Quote from: Amph on June 07, 2015, 05:32:21 PM

it seems that despite the huge debt, usa are still on track, and can recover from it anyway, they can probably liquidate the first debt by rising another one and keeps the circle active

so yes, you could consider it an illusion

You can only float debt for so long before you are buried in interest payments. Decades ago, the national debt didn't matter because it was all owed to domestic sources. It was like taking money out of one pocket and putting it in the other. In today's world however, the majority of the debt is foreign held and all interest that is paid leaves the U.S. economy.

The national debt (what the OP was talking about is National Net Worth. Very different animal) is a serious problem that, unless addressed, will have widespread financial consequences in the near future.