Wednesday, August 10, 2011
Who do we owe most of the U.S. debt to?
One thing thing that I tend to notice is that liberals tend to blow off the debt whereas conservatives tend to say the debt is bad and has deleterious implications for our future. My question simply is - who do we owe this money to? Is it mainly U.S. companies, multinational corporations, foreign governments, etc? (Obviously there is no one answer, but but what's the stratifiication of the debt's layout e.g. owing 40% of the debt to foreign companies, 20% to foreign countries) And my second question is whether or not the amount of debt has consequences in which the amount of creditors in society becomes more restricted (thus making them more powerful since more debt would probably be owed to them) while disastrously affecting consumers and those who already have a hard time paying their bills?
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