It’s not accurate to say “we’ve run out of credit” if countries will loan us trillions more if we just ask. It’s not like we’re a minimum wage worker taking out a $90,000 loan to buy an Aston Martin. If we want to pay off the debt, we could, there’s just no stomach for the tax increases to do so.
I’m also sort of puzzled that you just sort of offhandedly remarked that the Bush tax cuts failed to grow our economy. Isn’t the whole premise of your thread that tax cuts = economic boom, tax increases = crippled economy?