Ame®icano
Platinum Member
- Jul 8, 2008
- 24,750
- 7,531
Our national debt surpasses $18 trillion. Debt Clock
Almost one third of the debt is held in Intragovernmental Holdings, around $5 trillion.
Remaining two thirds are held by public, and that's around $13 trillion.
US debt is rising regardless who is in power. The only difference is who cries about it. When D's are in power, R's are decrying the national debt, while D's saying it doesn't matter. And vice versa. It's hilarious.
Since 1933 when begin the end of gold standard, US government operates in fiat currency back only by the full faith and credit of the U.S. government. It's generally accepted that the U.S. government will "never" default on its loan obligations. Since our monetary system is created out of debt, not all debt is considered a bad thing.
So, how good or bad is our national debt?
Almost one third of the debt is held in Intragovernmental Holdings, around $5 trillion.
Remaining two thirds are held by public, and that's around $13 trillion.
US debt is rising regardless who is in power. The only difference is who cries about it. When D's are in power, R's are decrying the national debt, while D's saying it doesn't matter. And vice versa. It's hilarious.
Since 1933 when begin the end of gold standard, US government operates in fiat currency back only by the full faith and credit of the U.S. government. It's generally accepted that the U.S. government will "never" default on its loan obligations. Since our monetary system is created out of debt, not all debt is considered a bad thing.
So, how good or bad is our national debt?