I didn’t know the fact above. Assumed more. But for a familiar scale that’s like a $13,000 auto loan of an average income household.
That means the big scary national debt could be paid off fairly quickly with only a marginally higher tax burden to the biggest corporations. We may need to do that if, for example, a bunch of political grifters wreck our credit.
The large majority (73.1%) of US debt is owned domestically. US foreign debt is well, well below GDP: https://usafacts.org/articles/which-countries-own-the-most-us-debt/
26.9% still is a lot of money.
I didn’t know the fact above. Assumed more. But for a familiar scale that’s like a $13,000 auto loan of an average income household.
That means the big scary national debt could be paid off fairly quickly with only a marginally higher tax burden to the biggest corporations. We may need to do that if, for example, a bunch of political grifters wreck our credit.