No, the analogy being drawn between Detroit and the USA is that they both have shit-loads of debt.
Of course the feds would inflate debt away with QE rather than defaulting. The real tangent is to claim that this makes such a world of difference that we don't need to worry about the federal debt.
BTW: Although your statement that "the federal government cannot default" was literally false, my response to it was overly pedantic.
Of course the feds would inflate debt away with QE rather than defaulting. The real tangent is to claim that this makes such a world of difference that we don't need to worry about the federal debt.
BTW: Although your statement that "the federal government cannot default" was literally false, my response to it was overly pedantic.