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Torrere · 05-11-2003, 08:06 PM

I didn't get much of the story. However, my government teacher (who is not necessarily trustworthy) says that most of the American debt is in the form of bonds. He also says that for most of the government's loans, if they paid the debt off early there would be a fine that usually would amount to MORE than the interest. Less than a quarter or a fifth of the debt (I can't remember which) is owed to foreigners (I'm assuming this means foreign governments).

So, if we pay all of the debt right now, it would cost the government more than paying it off at the proper times.

I still believe that the government ought to pay off it's debt. 6.5 trillion is ludicrous.

05-11-2003, 08:06 PM	#5
Torrere a real smartass Join Date: Dec 2001 Location: Kirkland, WA Posts: 1,121	I didn't get much of the story. However, my government teacher (who is not necessarily trustworthy) says that most of the American debt is in the form of bonds. He also says that for most of the government's loans, if they paid the debt off early there would be a fine that usually would amount to MORE than the interest. Less than a quarter or a fifth of the debt (I can't remember which) is owed to foreigners (I'm assuming this means foreign governments). So, if we pay all of the debt right now, it would cost the government more than paying it off at the proper times. I still believe that the government ought to pay off it's debt. 6.5 trillion is ludicrous.