Why does the U.S government refuse to pay its debts?

[septimus]

The answer to OP’s question is:

Because American voters are deliberately kept in a state of ignorance by right-wing propaganda machines.
Most Americans want a balanced budget and understand the need for taxes. Yet, due to an amazing level of ignorance many voters aren’t even sure which party is the party of “fiscal conservatism.”

Case in point:

@jtgain

Exactly. What did Bill Clinton do to fuel the dot com bubble that made the economy hum in the late 90s? He was just a lucky bastard. The internet came to life while he was President…

Oh my. I’ve tried to squelch this confusion before. Please read my whole post, but here are some excerpts:

@septimus

… Clinton’s 1993 budget cut spending by $250 billion, perhaps the largest spending cut in all of history…
The 1993 Budget led directly to one of the most prosperous periods in American history…

Now who should get credit for the 1993 Budget? Let us review voting on the Omnibus Budget Reconciliation Bill of 1993.
…Not even one single Republican Congressman voted for this Budget. Republicans natter about spending cuts, but on the biggest cut ever, every single Republican stood up and said “Nay”. Of course they would: Raising taxes on the rich (to a level still less than they were under Reagan!) was “class warfare” and would doom America! :smack:

It is said that this was the very first time in all of history that major legislation passed without one single vote from the “opposition” party. Republicans led by Newt Gingrich appeared on TV, predicted a recession, and declared that the Democrats must accept complete responsibility for the consequences of their Budget. As we now know this Budget was central in rejuvenating America’s economy; and America never came remotely close to recession throughout the entire Clinton double term. The Democrats should be proud to accept “complete responsibility” for this.

The quotes I’ve found by professional economists all praise Clinton’s 1993 Budget:

[ul][li]“liquidating the deficit ranks as one of the supreme budgetary accomplishments in American history.”[/li][li]“Without question, the 1993 Budget Reconciliation Bill has been remarkably successful in its goal of reducing the federal budget deficit.”[/ul][/li]

Hope this helps.