Wow, such blatant honesty about our dishonest monetary system.
Greenspan basically admitted that the US would never not pay its debts. Instead the US would pay by simply printing as much money as it needed.
This just goes to show how much the “fight” over the debt cap was a bunch of political shenanigans. The only things accomplished were getting a higher cap on an already maxed credit card, an unconstitutional commitee to limit congresses options on things out of said commitee, and a promise not to increase spending quite as much as originally planned.
That’s right, there was no actual decrease in spending, no cut in actual debt. Instead of buying the Lambourgini on our new credit card we will instead only buy the fully loaded Mercedes. Nevermind that our economy class ford escort works just fine.