I’ve once heard that the USA owns most of its debt to itself, how is that possible? How can you owe debt to yourself?

Question

I’ve once heard that the USA owns most of its debt to itself, how is that possible? How can you owe debt to yourself?

In: 252

Answer 1

Reagan, who wanted to fund ‘star wars’ technology took the money from social security funds they were building up for the boomer generation, just put an IOU in the ‘lock box’ candidate Gore was trying to explain we needed to protect future demands.

So that’s a few billions we owe ourselves.

We’ve always heard the Chinese and/or Saudis own much of our national debt but its mostly wall street. about 17% is held by China.