5 ms·

"If you owe the bank a million, you have a problem; if you owe the bank a billion..." etc. And the US owes trillions.

• toolslive 12d ago
  yes. but most of it is not to other countries. Most government debt (over 80% globally) is privately owned through sovereign debt instruments like bonds.
  • wskinner 12d ago
    And who owns the bonds?
    • dash2 12d ago
      Private citizens and companies, as the gp said.
• jeeeb 12d ago
  That cuts both ways. US entities own huge amounts of overseas assets including debt. A more appropriate saying would be cutting off your foot to spite your leg. Thankfully no one has done that yet.