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

The government borrows money from our pension funds and social security etc. It is about 75% of Americas debt. We will never pay it back. Ever.

This is why Republicans want to get rid of entitlements. So they don’t have to pay it back.