Who We Owe $17 Trillion In Debt To

[Demi-fiend]

http://www.businessinsider.com/who-we-owe-federal-debt-to-2013-10

Some observations:

• We owe most of the money to ourselves.
• We owe a big chunk of the money — about $6 trillion — to the Federal government. So if there ever were a default (hopefully there won't be) the government would also be stiffing itself.
• We owe about $5 trillion to other countries, including China.
• The total debt to China is only $1.3 trillion. So we're not in hock to China as much as some people think we are.
• Yes, it's a boatload of debt. But the experience of Japan, the U.S. after World War 2, and other countries, suggests that it's a manageable amount, as long as we eventually get our long-term entitlement spending under control.

 

[Railazel]

http://www.businessinsider.com/who-we-owe-federal-debt-to-2013-10

Some observations:

• We owe most of the money to ourselves.
• We owe a big chunk of the money — about $6 trillion — to the Federal government. So if there ever were a default (hopefully there won't be) the government would also be stiffing itself.

How in the world...?

 

[Demi-fiend]

How in the world...?

I know, right?

 

[Railazel]

I know, right?

Okay, somewhere along the way in our nation's history, someone was smoking weed and screwed something up.

 

[Demi-fiend]

Okay, somewhere along the way in our nation's history, someone was smoking weed and screwed something up.

Well, when you're in power, with a lot of money, you just sort of... stop caring.