Who are America's Creditors? Or, debt economics for beginners.
Let us fittingly start this article with wise words from one of the founding fathers:
"There is in the nature of government an impatience of control that disposes those invested with power to look with an evil eye upon all external attempts to restrain or direct its operations. This has its origin in the love of power. Representatives of the people are not superior to the people themselves." Alexander Hamilton - Federalist Papers, 1787.
U.S. Treasury Department will tell us the current National Debt to the penny
As of today's date (January 27, 2010), the U.S. national debt sits at $12,301,772,321,038.04 according to the U.S. Treasure department website. http://www.treasurydirect.gov/NP/BPDLogin?application=np
This is broken down into two main categories:
Debt Held by the Public $7,784,152,852,860.25
Intragovernmental Holdings $4,517,619,468,177.79
Which tells us very little
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