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The federal debt officially surpassed $20 trillion for the first time on Friday, as the debt subject to the legal limit set by Congress jumped $317,645,000,000 in one day--following President Donald Trump's signing of a spending-and-debt-limit deal that will fund the government through Dec. 8.
originally posted by: ConscienceZombie
Since money is printed on paper, it's true value is meaningless. They could just say the word and that number becomes a zero. It's not like they would lose anything. It comes out of thin air. Now we want to move to a digital currency...you f#ing kidding me...
Idiocurrency is what I'm calling it now...just invented a word...
originally posted by: JinMI
a reply to: JedemDasSeine
Simple reasoning is that my money, the literal sweat from my brow is being managed in such a way that would not be permissible, dare I say even legal, to do under my own roof with the remaining dollars. If that weren't enough, it's only a fiscal year away before they want even more to mismanage.
I'm not alone in these views.
The top holder by far is U.S. citizens and American entities, such as state and local governments, pension funds, mutual funds, and the Federal Reserve. Together they own the vast majority -- 67.5% -- of the debt. Foreign nations only hold 32.5% of the total.