I’m a middle aged dude with a family, own a house, have four kids, investments, all the adulting things.
However, I’m still not sure how a multi-trillion dollar national defecit seeps down to affect my day-to-day life
In: 492
It’s important to understand that whatever the negative implications of the debt are for Americans, a lot of it is offset by the positive effects for the people who hold the debt. And most of the debt is owned by… Americans!
About 1/3 of the debt is held outside the US. The other 2/3 is held by Americans, American institutions and other parts of our local and federal government.
So the interest on the debt, that we need to pay as a country? Most of that interest is being paid to Americans and other parts of American government.
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