I would disagree with this....
Much government debt is via bonds sold to private individuals. So we should just stiff them?
Much debt is actually "transferred" from other accounts. Such as the US's Social Security fund has been "borrowed" from to fund other debt. If the government simply erases that then again, private citizens who paid their entire working life into that fund, will be robbed.
Much debt is owned by other governments. The US has a huge monetary debt to China. Simply defaulting on that would have severe economic consequences.
and no.... "who owns the mint can never go broke" is absolutely proven incorrect. Venezuela and other countries have attempted to "print money" out of debt. This simply causes hyper-inflation that makes the money less valuable than the paper it is printed on! If this concept was true, every country in the world would be printing as much money as they could. However, we know this does not work at all.
My opinion, like any business, governments have to stop spending more than they take in..... period. Not easy..... and you certainly will make people unhappy.
Bob - obviously we cannot renege on debts. But printing money is quite possible. You are right - those Nations who have done this unreasonably have caused hyper-inflation. No-one sees that as desirable. But, in the last 10 years, inflation has consistently undershot central bank targets. To the extent that money (and debt) now is worth some 10% more than it would be had those targets been met.
Setting inflation targets at a sensible level and sticking to them is the way to manage large debts. That exponential, over several decades, dominates. Exactly what is a sensible level is surely a trade-off, and it would not be stupid say for that to go up from 2% to 3% to speed up debt forgiveness.
Indeed, this has been political. Yet please show me per your statement where Trump HIMSELF ever made unwise and incorrect claims. I have seen his interviews where he said it was interesting, showed promise, could be a game changer. These are all statements various MEDICAL and other sources have said as well.
The media (and statements such as yours) are putting words in his mouth. (Not that he needs any help with that!) It is the MEDIA making this a big deal, not Trump. Yet you blame HIM and not the MEDIA. Again, show me proof otherrwise.
SOT said that Trump should shut up about HCQ. Well, I challenge people here to show actual quotes or interviews where he has politically pushed this and pushed it in quantity. The MEDIA went crazy when they found out he was taking HCQ and broadcast it.... not Trump. How come we are not demonizing the MEDIA for their "incorrect", "unwise" and political reporting? Such as saying Trump said to drink bleach..... a complete fabrication and intentional political ploy.
Ok, so mea culpa, you are right that Trump's original remarks were roughly in line (though expressed less cautiously) with what we were hoping at that time. But we are not making policy for countries, nor setting expectations for people. In that case caution is advisable. For example, Trump's recent comments abut the safety of HCQ (not true) may well lead many people to take it without the necessary checks - which Trump himself no doubt gets, every day. And Trump, unlike us, appears not to revise his expectations based on evidence.