As well as likely many others on this board I can recall similar arguments as are made today when the total debt was only in the hundreds of billions. Smaller than the annual total increase in debt over each of the last many years.
I don't doubt that spending beyond the full faith and credit of the government would be an issue and I surely don't know what that number is, but it is certainly larger than what it is now as long as government acts responsibly. Oops, never mind.
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