The USA and Chin have the highest debt in the world but i don’t understand the concept of them being some of the wealthiest countries, does that debt need paying off? How do they get this debt? Ultimately it just doesn’t make sense to me.
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The U.S. owes the overwhelming majority of its debt to itself. The U.S. also owns a gigantic amount of foreign debt. It makes for great news stories about how bad it is, but it’s just money that will eventually go right back into the economy.
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