Beasty Wrote:SmG Battlefire Wrote:Who will even make us pay the debt anyway? We're 'muericans.
The large majority if US debt is domestic, meaning the US governments debt is owed more to banks and investment firms who purchase treasury bonds then it is with other countries like China. Way, way more.
This is a blessing and a curse. Because we owe an ungodly amount of money to the very people making the money, they effectively hold our economy hostage. The good news is, in the inevitable revolution, when we repudiate the former United States' national debt, we won't really be picking a fight with other countries.
I know that just talking about the Chinese debt.
Currency can't be perfect. It has to be from some sort of value. Which is a problem because that value isn't always the same.