Can you explain like I’m five, what is the national debt, how does it exist, where does the money come from or go?
Do we just pay monthly on it, because God knows if I was to not pay on my debt, someone would hold me accountable….
Thanks.
In: Economics
Savings bonds. When you buy a savings bond you are loaning money to the government. When you cash it in the government is paying you back.
That is essentially how the national debt works, but there are an insanely large number of bonds held by many, many different groups and individuals.
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