Whom does the United States owe nearly $31 trillion in debt?
BY PGF
4 years, 1 month ago
Proverbs 22:7 comes to mind. Source:
The U.S. has about $30.9 trillion in national debt, according to the latest data from Treasury Department, and that total will reach a record $31 trillion as early as later in the month.
Roughly $24.3 trillion of America’s total public debt outstanding consists of debt held by the public, and $6.6 trillion is intragovernmental holdings, according to Monday data from the Treasury Department.
Intragovernmental holdings include federal trust funds, revolving funds and special funds, as well as Federal Financing Bank securities, the Treasury Department said on its website.
You can be sure that nobody will pay this “intragovermental holdings” debt but you, dear reader.
Debt held by the public consists of all national debt “held by any person or entity that is not a U.S. federal government agency,” according to the Treasury Department. That includes corporations, domestic individual investors, local or state governments, Federal Reserve banks, foreign investors, foreign governments and other entities.
The money is owed to both nobody and to everybody. Simultaneously. And you can bet that most of it will never be repaid. And the small percentage of it that does get repaid will have millions skimmed off to go into the pockets of corrupt politicians and bureaucrats involved in the process.
I’m not sure if read it here, or somewhere else, that it took us 240 some odd years to print 6 trillion debt bucks, and “we” have printed the same in just a few months? It boggles the mind.
CIII
It’s easy to ‘print’ money when all it takes is a few keystrokes on a computer.
I will ask someone if they know what a trillion is. They are shocked when i say it is one thousand billion! The words ‘million’ and ‘billion’ are tossed around by the fedgov so much the true meaning has been lost.