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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I’m a little too high to go into detail at the moment, but I think it’s important to note that a lot of the US gov’t debt is internal. In other words, we owe it to ourselves. Foreign accounts hold less than a third of the US debt, IIRC.
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