The Fed will keep printing dollar to keep their balance sheet under controlled. The debt ceiling will be raised again and again. At least they can make the creditors believe they can pay back when due.
Exactly. Debt will always raise faster since we have to pay the federal reserve interest for every dollar printed. This means that we can never, ever pay off our national debt. If the debt ceiling is ever truly capped, then our economy collapses and becomes crushed under the debt (there will always be more debt than actual dollars). This is why the US credit rating is under fire every time there is even discussion about "not increasing the debt ceiling".
The debt ceiling is only capped by statue, as long as congress continues to raise the ceiling the US government's ability to borrow will generally continue. If the market were to decide that the US would not be able to make good on it's debt then it would be shut out of the debt market.
The reason why we are unable to pay off our national debt now is because we are running a budget deficit (spending more money then the government is receiving in tax revenue),
once the government starts to run a budget surplus (
spending less money then receiving in tax revenue), then the national debt will be able to start to get paid off.
Are you sure that you are not just repeating government-sponsored tax myth? The government has many income streams...
A complete government and (taken over by government) syndicated news media blackout has existed for over 60 years, DUE TO THE MONEY INVOLVED!