How can the US national debt be over $23 trillion if that much money doesn’t even exist in the world?

Question

How can the US national debt be over $23 trillion if that much money doesn’t even exist in the world?

In: Economics

Answer 1

The Federal Reserve loans money to the government at interest. That number is the total amount owed by the United States government to the Federal Reserve. (Btw, your federal income tax pays the interest)