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This is extremely misleading. About half of it is owned by private investors and foreign nations. The part that is internal is mostly owed to social programs l
by s1artibartfast 1y ago
This is extremely misleading. About half of it is owned by private investors and foreign nations.
The part that is internal is mostly owed to social programs like social security.
- jeffbee 1y agoI don't see how my statement was in any way misleading. The Treasury estimates the upper bound of foreign ownership to be $9.1 trillion. The overwhelming majority of Treasury debt is held by domestic interests, whether agencies or organizations or individuals.
- s1artibartfast 1y agoFor most people, "ourselves" implies the lender and holder are the same, and directly leads to the idea that it is forgivable without someone left holding the bag.
- jeffbee 1y agoThere is no sense in which federal debt is "forgivable" under the Constitution.
- s1artibartfast 1y agoHow do you think the constitution plays into it? The US federal government absolutely has the ability to forgive, restructure, or write off debt in its capacity as lender. It has frequently done so. Where do you see limitations on seeking default or forgiveness in its capacity as borrower? The US did a pseudo default when it left the gold standard and paid gold denominated debts with paper worth significantly less, telling lenders to put their complaints were the sun doesnt shine.