A bit about politics

Nov 14, 2007 13:26

The U.S. national debt is 9.1 trillion dollars.  Here's the U.S. National Debt Clock.

Here's Ross Perot talking about the 4.1 trillion dollar national debt in 1992. He was right to be concerned.  4.1 trillion dollars was a huge debt.  In 15 years, the debt has gone from 4.1 trillion to 9.1 trillion.

The problem is that a politician who ignores ( Read more... )

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triath November 14 2007, 21:58:23 UTC
I'm curious, which countries don't have a national debt? That is, who do we theoretically owe money to?

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triath November 14 2007, 22:25:00 UTC
Thanks!

How odd, since one source I was looking at claimed that Japan owns most of our debt.

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scottsch November 14 2007, 22:30:27 UTC
I don't know about countries, but some states don't have debt. California at one point paid off its debt. I tried looking up facts on this, but my google-fu is not strong enough.

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triath November 14 2007, 22:44:16 UTC
iron_sky November 15 2007, 01:18:05 UTC
After poking around through the Wikipedia article on US public debt, it looks like:

Of that $9 trillion, about $4 trillion is owed to other parts of the US government (e.g. Social Security). Of the remaining debt, about 25% is owed to foreign governments (details). Japan, China, and the UK are the top ones.

The rest is owed to other investors in US treasury bonds, including state and local governments, private investors, pension funds, etc.

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