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View Diary: David Gregory laid into Eric Cantor (254 comments)

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  •  If I remember the math right (0+ / 0-)

    75% of the debt is money the government owes to its own citizens through US Treasuries.

    Only about 25% is foreign owned, with the top three foreign debt owners being China and Japan (roughly tied) and Great Britain.

    I personally own a few thousand dollars in national debt by virtue of a US Savings Bond drive at a former job some years ago.

    •  EXACTLY! (0+ / 0-)

      Govt debt is "OWNED BY"  not owed by the citizens.  Govt debt is an asset not a liability.

      Even the "debt" owned by China/Japan is nothing more than dollars they got from selling us stuff placed in savings accounts at the fed.

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