only interest has to be kept up with , the debt can go on forever as long as we are the best horse at the glue factory ...as long as the dollar is strong and the world covets our bonds , it is only interest that has to be paid .
This year, the "Interest" on the Federal Debt is expected to exceed 470 Billion Dollars. That is a lot of money that could be used far more productively than paying interest on government bonds, etc. This massive and increasing debt is the primary reason why the Fed is keeping interest rates at nearly zero, and why savers are seeing little earnings on their money in the bank.
The world may "covet" our bonds, but that may not last for long....there have been recent reports of China shedding some of its holdings, and I'm sure other nations are thinking the same.
If our government doesn't begin to exercise some financial Common Sense, and begin to lower this debt, the eventual result will be a devaluation of the dollar....and, That will totally Screw everyone.