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I realise this, but my point is that there seems to be no real attempt to control the growth of national debt, let alone to get it to below a certain percentage of GDP or GNP. Presumably the government attitude to debt will rub off to some degree on the citizens.
I would personally like a constitution under which government taxing, spending and borrowing was limited, other than ih exceptional circumstances.
I'm from the UK, we don't have a constitution as such.
I disagree with this. Short explanation: this is a political problem, not an economic one.
Long explanation:
The issue in the U.S. is the degree to which the government, including financing (taxation and debt issuance) and spending policies, is just being used to advanced narrow interests. The U.S. doesn't as a country face super serious constraints unless it continues ignoring the possibility of screwing over the ass clowns who created this mess. The ways out include: higher taxation on the ultra rich (who are more often than not thieves), inflation (which is basically the same as higher taxation on the ultra rich), and reduced government intervention on behalf of the ultra rich.
Why doesn't this happen? For one, there are many dupes in the world who pretend to identify with the Koch brothers or the Murdochs. Furthermore, federal power resides dis-proportionally with Red States (landlocked, mostly rural states) that use the federal government to extract tribute in the form of spending substantially over what they pay in taxes and decisions about federal priorities that increase their economic clout. The marriage between these constituencies is poisonous for the US.