This not economics 101. Economics 101 covers the difference between small time city finances and the US government. Like the fact we have our own monetary system, central bank, and print our own money, the same currency we borrow in.<quoted text>
There is an article in today's OD regarding borrowing to cover deficits and the effect it has on credit ratings. You should give it a look. It spells out exactly what is happening in Utica right now, what happened in Detroit and what will happen if the US government continues deficit spending and running up the national debt.
This is "Economics 101".