I do give The Atlantic one bit of credit: They didn't bury the lede.
"I've borrowed knowing that you can pay back with discounts," he told CNBC. "I would borrow knowing that if the economy crashed, you could make a deal.”
This policy would be so disastrous that even its suggestion is dangerous.
The article goes on to say that suggesting that one might haircut the debt would collapse markets -- and the economy.
But let's be serious, shall we? Does anyone actually believe the United States can borrow more and more money at a compound ~7% rate forever while the economy itself grows at 1-2% and that said debt is "money good" and will be paid in full?
I remind you that such a premise is mathematically impossible and anyone with more than a middle-school education either knows it or should -- therefore, anyone buying said "debt" today, and in fact for the last decade and a half, knows damn well that at any longer maturity you are not going to get paid in full.