National Debt

I've been perusing government websites checking out national debt information, and I had to chuckle a bit. The Congressional Budgets Office proudly proclaimed that it was the 3rd best place to work in the government. Then the Bureau of the Public Debt proclaimed that it was the 4th best place to work. Oh government...

What I've been learning is that we have our undies in far to tight of a bundle when we discuss the national debt. Here's how it works.

The national debt is a whopping 11.4 trillion. About 3 trillion is held by foreigners. What that means is that 8.4 trillion dollars is owed to Americans by Americans. So even though the debt per-person is 37 thousand dollars, they only owe 9 thousand to somebody other than themselves. Of course all those evil rich capitalists own all the debt while the poor victims own nothing.

And only government could set up a system where a people owe themselves trillions of dollars.