Britain's prewar cycle of borrowing and debt repayment

How would Britain negotiate if it knew its American war debt was less constraining than often believed?

Britain already treated war debt as normal: borrow for conflict, service it, and repay quickly enough to restore future borrowing capacity.

American war debt was not automatically viewed as a noose around Britain's neck. Before the Second World War, the recurring model was to finance wars through debt and pay it down during peace, preserving the ability to borrow again. Britain's wider obligations included other states and major private financial institutions as well as the United States.