Sirius 2.0 astrology software mac1/15/2024 Social Security owns another $2.7 trillion of US debt, which of course is money owed to American retirees. The Federal Reserve owns $5.1 trillion of US debt. But let’s first examine who owns it:įoreign governments like China, Japan, and Saudi Arabia hold a combined $7.4 trillion of US debt. This is one of these irrational aphorisms (like “silence is violence”) that people like to repeat over and over again until they believe it to be true. The US is way past that threshold - but I’ll return to that point in a moment.įirst, any time there’s a discussion about the national debt, invariably some idiot says something stupid like “the debt doesn’t matter because we owe it to ourselves.” Historically, advanced nations tend to get into trouble when debt-to-GDP reaches around 90%. The US national debt has now breached $32 trillion… meaning America’s debt-to-GDP ratio is now 121%. From the time the US government managed to sign the debt ceiling resolution, it took just thirteen days for the national debt to soar by nearly $600 billion.Īt that pace, they added over $500,000 to the national debt every second.
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