U.S. Debt

xoxoxoBruce · 05-11-2003, 07:26 PM

Glad you brought this up. I've been thinking about starting a thread on the debt myself.
Back when they were wondering what to do with the huge surpluses, I said pay the debt. People looked at me as if I'd said nuke the whales.
Ok, the debt is a mere (cough, choke, blanch) 6.5 Trillion bucks.
To whom do WE owe this money?
Who is collecting all this interest we're paying?
I would assume to lend us all that money "they" would have to be pretty rich. And my savings bonds don't mean diddly.
So "they" are probably banks, insurance companies, TIAA/CREFT, Warren Buffet and so on.
So, since "they" are also the big campaign contributors and lobbyers. "They" would have the debt paid down if it was to their advantage.
"They" don't, so it ain't. End of story.
OK, tell me what I'm missing here.

05-11-2003, 07:26 PM	#1
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	Glad you brought this up. I've been thinking about starting a thread on the debt myself. Back when they were wondering what to do with the huge surpluses, I said pay the debt. People looked at me as if I'd said nuke the whales. Ok, the debt is a mere (cough, choke, blanch) 6.5 Trillion bucks. To whom do WE owe this money? Who is collecting all this interest we're paying? I would assume to lend us all that money "they" would have to be pretty rich. And my savings bonds don't mean diddly. So "they" are probably banks, insurance companies, TIAA/CREFT, Warren Buffet and so on. So, since "they" are also the big campaign contributors and lobbyers. "They" would have the debt paid down if it was to their advantage. "They" don't, so it ain't. End of story. OK, tell me what I'm missing here. __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

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