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The debt's got to be paid.
To Who?
That is the big question. There is all of this concern about the debt, but who do we actually owe it too? So looking at a debt of $28 Trillionish...
22% of it Intragovernmental holdings. So that is over 8 1/2 Trillion that the Government owes to itself. What is the value of that debt?
Of the rest of it... the 78% that is public holdings. The Federal Reserve holds a little over $7 Trillion of that piece of the pie.... so what is the value of that debt?
So we are looking at a over $15 Trillion of that debt basically owed to ourselves. And yes... the rest is an enormous sum of money but seeing as how the largest foreign holder of US debt is Japan... it doesn't seem quite as scary.