So far, it is.
Default is not uncommon. "Between 1945-79, real interest rates for 22 leading economies were negative over 50% of the time." Her point is growing your way out of a debt overhang has almost never worked. There's almost always a deflationary debt restructuring and financial repression. This is one of the reasons why commodities are so weak and oil is 25% off this years highs. Even with all the obvious printing, deflation is the silent threat.
Don't talk about United States Notes. Don't ask what they are. Never, never mention them. Why? Because they'd work. But if they'd work, why not mention them? Because of the bankers, the bankers, .... What do they have to do with it? Everything. If we bring in United States Notes, the bankers aren't needed anymore, at all. They know that. So does everyone else who's afraid to breathe a word about United States Notes because then they'd probably be ostracized from the mainstream corporately controlled, banker-dominated media, etc. Actually, it's banksters, not bankers.
You see, we don't need debts, at all. We don't need interest rates or interest payments, at all. You don't have to have inflation or deflation. We could pay off the National Debt, the Global Debt, in one fell swoop. We could have all the currency we need to do anything, anything, we want. We could build anything, go anywhere, accomplish anything that we could imagine if we were to simply decide to do it and have the right heart and spirit.
There's only one thing standing in the way: evil. That's a fact! If it's in the way of what I've described, it's evil, period.