re: Breakdown of to whom the US owes its $22T debt

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bmy

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You don't realize that Republican voters think differently than Republican politicians ?

A good start on reducing the debt would be no foreign aid , no illegals , stringent vetting of welfare , food stamps , Section 8 housing etc. , cutting federal workers , reducing the size of the military etc. , getting out of NATO , stop funding the United Nations, I could go on and on.

The problem is , Liberals don't bitch enough about spending.

It's conservative voters against , Liberal voters, Republican and Democrat politicians.

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If you also back up the above with the most powerful military machine to ever grace the planet then your national debt is essentially irrelevant.

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That's a lot of words to say "armed robbery."

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If you also back up the above with the most powerful military machine to ever grace the planet then your national debt is essentially irrelevant.

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Not if ~70% is owed to your own citizens.

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who are the individuals and entities that are here in the USA?

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Pension funds, credit unions, mutual funds, corporations, state and local government entities, every FDIC insured bank, basically any and every financial institution and entity that needs access to low risk high liquidity funds to meet their future obligations.

We "owe it to ourselves" but that still means the US Treasury still has to pay back principal and interest on every bond they issued to those entities (except maybe the Federal Reserve).

If they just "wrote it off" like Kramer on Seinfeld and some other posters are suggesting, just about every major financial institution would be busted in short order and the entire financial system would collapse.

FYI, the CBO has already stated interest on the national debt will comprise over 1/3 of all government spending in FY 2021, totalling over $1 Trillion of the projected ~$3 trillion total federal budget. (Thanks Obama for adding an extra $14 trillion in 8 years to $4 trillion accumulated from George Washington to GWB!)

The same CBO report also says the other 2/3 of the 2021 budget will be consumed by Medicare and Social Security costs, leaving $0 to pay for ALL other current federal spending.

Hope y'all enjoyed the basic functions of the federal government, like interstates, air traffic control and national defense while it lasted. It's all going away to pay for Obama's spending and free medicine & welfare for old people exclusively.

Much more important than who holds our debt is the cause of the debt. I'm much more interested in What specific legislation or action did most to create this debt.

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A lot of countries owe the United States money. Lol.

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And no one ever talks about the entire balance sheet. What is that $21T as a percent of assets? What is our equity position? They just throw that large debt out there to scare people.

The deficit is the real problem. It is fine to run a deficit some of the time, but we run one all the time. That will cause problems down the road if not reigned in.

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Democrats in 2018:
blackface, the klan, and sexual harassment is the single greatest threat to a diverse society and will cause blood to run in the streets

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Democrats in 2019:
blackface, the klan, and sexual harassment are essentially irrelevant

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What happens when the US can’t pay the interest on these bonds and people stop lending the Govt money?

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If you own a govt bond and that govt decides they’re no longer going to honor it...what do you think that bond is worth?

Now.....consider those bonds are a part of every corporation, pension plan, bank, retirement allocation, and God knows what else’s assets. What happens if a big part of your assets get revalued significantly lower due to default risk?

But no...we need to debt jubilee.