But ~$21T of the total ~$28T of public debt is held domestically, so if the government wants that debt to be worth as little as possible when it pays it off, US

But ~$21T of the total ~$28T of public debt is held domestically, so if the government wants that debt to be worth as little as possible when it pays it off, US individuals and institutions will be harmed much more than China or other foreign holders. https://www.treasurydirect.gov/govt/reports/pd/mspd/2020/opds122020.prn https://www.treasurydirect.gov/govt/reports/pd/mspd/2020/opd... (source for $28T total debt, your link shows total foreign holdings of ~$7T.)