LOL....if not for the massive deficits of 2009+, we would have seen a replay of the 30s. The notion that the debt has to be "retired" is nonsense. US public debt to GDP ratio is a bit high...but it is nothing compared to the debt in the private sector. That is the real danger. That is what caused the crisis. The increase in public debt post 2008 was a tool to keep private sector debt from imploding completely like the 30s. Also, in the late 30's...it was decided that they were through the worst of things, and they needed to reign in spending. The result was a sharp and painful recession. Private sector credit creation could still not stand on its own. If you got your way...you would basically be saying...lets repeat 1937-1938 again.
The debt needs to be retired.
Yes, I want a repeat of 1937-1938 again.
Cleanse the system of this awful mess!
If it means having a revolution, then have a revolution.