Unintended, but inescapable consequences. When a nation borrows more than it can possibly ever repay, and "buys" its own debt in huge volumes (otherwise known as 'printing more money', which the US has been doing now for years) there really is no other possibility, the value of the currency falls sure as gravity. This starts a spiral. Since the money is now worth less, the nation has to borrow more, which makes the money worth less. The citizens suffer the results of rampant inflation and productivity nosedives. Rinse, lather, repeat until total currency failure. Read history. This has happened repeatedly in many nations that incur crushing government debt and control their own currency. There have been no exceptions. Does anyone really believe that our poor, ill, and vulnerable will be better off as our financial markets collapse from the weight of the debt? The alternatives include measures like controlling our own government debt (reduced spending AND higher taxes-but we don't yet have a Congress willing to do that) or turning our economy over to a global entity like the World Bank and letting them tell us how to arrange our spending as has happened in the past to other countries.
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