Why would our debt holders forgive the debt?
If someone owed you $108,525, would you forgive it? Even if they asked... nicely?
I chose that number because per capita, as in every man, woman, and child in the US, that's what we all owe based on our current national debt. (and I need to post this fast, or that number will be out of date, because the debt is going up VERY quickly!)
That means over $108K for every baby from the instant they're born (and going up), and for every person who isn't in the labor force, etc. That means me, and it means you.
That's one helluva hole we have to dig ourselves out of.