Economy U.S. National Debt is now 35 trillion

Longevity is the key in this race,

No need to payback those whom are no longer around…
 
Damn you, Trump!
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The XL said:
Why do we have a debt on money we mostly print out of thin air? Who do we owe a debt to? Silly system that certainly doesn't benefit the people
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Hahahaha

Yeah Donald Duck The Draft fucked us over with $8 trillion.
 
To who?

Real talk.

Who do we owe all these duckets to?

Cause if that debt real then somebody gon come knocking.
 
emefer said:
Nearly a quarter of it is his
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8/35= .2286+/- x100 = 22.86% for Deficit Donny.

Sorry, but what I want my Sherdog legacy too be is when posters see my name, they are like this fucking guy Maths. Also I came up with the name Frost Maul for the Night King in GOT.
So only 2 things for my legacy.
 
The Federal Reserve owns most of the debt. It's like they are a foreign entity that doesn't have the US best interests in mind.
 
jamel said:
To who?

Real talk.

Who do we owe all these duckets to?

Cause if that debt real then somebody gon come knocking.
Click to expand...

Some of it is owed to private individuals and foreign countries invested in long term bonds, but is mostly just money the US government "owes" to the Fed Bank, which is just a fancy way of saying we owe money to ourselves.

$8 trillion is owed to foreign bond holders, but this is long term debt.

So about 1/3rd is owned by foreign countries, individuals or banks, the rest is owned by the American public or bank institutions, or is just intragovernmental debt.
 
jamel said:
To who?

Real talk.

Who do we owe all these duckets to?

Cause if that debt real then somebody gon come knocking.
Click to expand...
"At the end of 2022, the nation’s gross debt had reached nearly $31.4 trillion. Of that amount, about $24.5 trillion, or 78 percent, was debt held by the public — representing cash borrowed from domestic and foreign investors. The remaining $7.0 trillion (22 percent), was intragovernmental debt, which simply records transactions between one part of the federal government and another."
https://www.pgpf.org/blog/2023/05/t...borrowed-trillions-but-who-owns-all-that-debt
 
The XL said:
Why do we have a debt on money we mostly print out of thin air? Who do we owe a debt to? Silly system that certainly doesn't benefit the people
Click to expand...
The premise is wrong. When gov't revenue is less than spending obligations, there are debt auctions. And of course it benefits "the people." The biggest chunk (22% in FY2024) is SS, which is almost all checks to the people (who then spend their money, giving it to other people). Then there's healthcare, which is money the gov't gives to cover people's healthcare costs (that then goes to people who provide health services, and then to other businesses, as they spend it, etc.). So, no, we don't print money out of thin air to fund gov't spending, and yes, gov't spending goes to people and then gets spent.

The actual cost of gov't spending is crowding out (when we're operating at full capacity, as people think we are now, though hacks deny) and some inefficiency.
 
sickc0d3r said:
"At the end of 2022, the nation’s gross debt had reached nearly $31.4 trillion. Of that amount, about $24.5 trillion, or 78 percent, was debt held by the public — representing cash borrowed from domestic and foreign investors. The remaining $7.0 trillion (22 percent), was intragovernmental debt, which simply records transactions between one part of the federal government and another."
https://www.pgpf.org/blog/2023/05/t...borrowed-trillions-but-who-owns-all-that-debt
Click to expand...
They better watch out. My grandma is going to come knocking on the WH door to demand payment in advance of the contractually agreed-upon schedule, and she gets really grumpy.
 
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