Uncle Paul
Well-Known Member
Not borrowing their own money. The debt is sold via multi year bonds to investors and foreign governments. We need to pay it back, with interest. Usually when buying them back at maturity most often US just issues additional bonds to pay the principle and interest.
You are correct, that the American people are on the hook for these bonds, currently well over $100,000 for each citizen. Undocumented aliens are not liable, only citizens.
You are correct, that the American people are on the hook for these bonds, currently well over $100,000 for each citizen. Undocumented aliens are not liable, only citizens.