National Debt... Who's Collectin'?!

Pretty much to ourselves.

Let me clarify that a bit.

The US sells government bonds - mainly to US citizens. When you buy a bond, you are basically loaning the US money.

The government pays interest on these bonds over a certain term of time.

We also owe it to the other governments that buy US Treasury issues.

They owe about 74% of it to me based on a bet on Super Bowl XIX, but I'm starting to think they're never going to pay up.

What about the IMF?

Pure speculation, but I would bet a cup of coffee that IMF is somehow off budget. I mean, not included in national debt.

Odd. I'll have to look it up one day.

Ahhh!!! The National Debt!!!

That great intergenerational debt - i.e. inherited "sins" of the father!

What a great principle! I wasn't responsible for it [all] but eventually I'm going to have to pay for it! ...That is if I don't choose to 'pass the buck' to my kids or grandkids or their kids... (shhhh!!! Don't tell them. What they don't know want hurt them!)

<*the kids*>
Hey! Wait a minute... I thought we don't have to or shouldn't have to "pay for something" we're not personally responsible for!
Who made this stuff up where we have to pay for something we didn't do?

It's not fair! It's a punishment!

I heard that many japanese business own vast amounts of US treasury bonds.

"The Public Debt" is made up of all funds owed by The Federal Government to individuals, business, and governmental entities, foreign and domestic. These funds are secured, or held by means of, a list of vehicles including but not limited to Treasury Bills, Treasury Notes, Treasury Bonds, United States Savings Bonds, State and Local Government Series, Foreign Series, and Domestic Series. Among the largest holders of The Public Debt are the Central Banks of foreign governments, private banks foreign and domestic, insurance companies foreign and domestic, and pension/retirement funds foreign and domestic. In point of fact, The US Public Debt is a critical, underlying, foundational component of the global economy. It represents a major portion of all savings and investments other than stocks, commodities and real estate throughout the world, and it in key part underwites the stability of just about every free-world currency. You'd better hope it never goes away.

Thank you timberlandko! I was startin' to worry that I wasn't going get a serious answer on this. Even after researching my own question, I was either overwhelmed by information, or simply ignored. It's frightening to realize what would happen to us, and our money, if the powers to be would cease to give us the money (loans!) to live our lives the way we do now. My next route, to have my question answered, was to write Lou Dobbs @ CNN, but, I think your answer, short and sweet, would make even Lou appreciative. A tip of the "just hatched" hat to you!

US National Debt Clock

Killer (literally!) clock Wilso. It really shows the "bottom line", at a VERY quick pace. Yikes!

Got some good explanations if you read down too.

The clock is kinda cute, but going through the website, I find its author has at best a flawed understanding of the subject. Actually, a whole lot more, and much better, info, may be found at the



Bureau of the Public Debt website.