President Biden emerged from the basement of the White House to make a surprise announcement: The national debt of the USA is to be canceled!

At a stroke, the President will cancel trillions in national debt and reset that pesky debt counter to zero. No longer will the Fed need to waste time and money printing paper US dollars to pay off the debt as now it does not exist. Wall Street analysts reacted positively to the debt cancellation by claiming that trillions could be pumped into the economy (i.e. Wall Street) instead of servicing debt repayments. Bonus!

A presidential spokesperson told FNN:

If we can cancel J K Rowling we can surely cancel the national debt! And we will save money on the electricity needed to power the national debt counter now that it will stop whirring around every second. Anyone we owe money to can suck it up!

Lots of other countries are expected to follow the US lead and cancel their national debts, especially if they owe any money to Russia.

FYI Biden has returned to the basement.