The other consideration FED and other gov. entities hold a sizable % of the debt. Which creates some BS accounting e.g. FED collects interest than transfers it'

The other consideration FED and other gov. entities hold a sizable % of the debt. Which creates some BS accounting e.g. FED collects interest than transfers it's back. The danger is FED acting not so much to control the money supply as backstopping government and acting as buyer of "last resort" if there are no other takers for the debt.