US's debt crisis

just want to clarify the so call "US's debt crisis", in US policy, to be more specific, the Fed's policy, when US gave up the gold-standard to support its currency value, and turn to "credit" supported, which mean, the buying power of US dollar is completely based on "trust", the trust that people believe 1 US dollor  worth certain value, and the issue of US bill can be pay back, then, the Fed's policy was going to be "deficit" policy.

This is a complete different idea on wealth management. for individual, since they cannot issue "bank note" or don't have any "credit", they have to save money or need some-kind of "gold-standard" to preserve its own buying power. However, for a country, they have power to issue money, when people "trust" it is worthy, it can print as many "bank-note" as they want. and the "deficit" of a state is not a problem at all, since, all about a numerical game.

think in this way, john and sam are playing a trading game. john just make its own money and sam willing to exchange some real thing, like pie, apple with john. thus, in some sense, john can have free stuff, as long as sam believe john's bank note is worthy. after a while, sam have many banknotes and want to buy something from john but realized that nothing can be bought from john! that is too late for sam, since all his banknote is basically nothing.

So, this "deficit-state" policy ran for long long time, say, about 70 years already. why people only now said it is all american fault???

back to the first message, the "US's debt crisis" is more likely to be political, between the balance of power between the parties, rather then real financial problem, in principle, the "deficit-state" does not exist, cost it always can issue more money. and as long as the rate of issue the money is well controlled, the value of US dollor never reduced, since it just reflected the US economy is getting larger and larger.

people may ask, can other country go to "deficit-states" policy as well? if the country can complete with US dollar and gain trust from people, so far, nothing like that.