So, Who do You Suppose Owns the Most U.S.Government Debt?

[Stuart G]

Is it the Chinese?
Some Rich Saudi Billionaires?
Rockefellers? Kennedys? Warren Buffet?..Walmart?

not according to Thom Hartmann..Yesterday on his show, he said it was.....

The Social Security Trust Fund..
by law must be solvent,..
and .....The Social Security Trust Fund has the largest amount of U.S.Debt..
...... It invests its funds in AAA rated, United States Government Bonds and Notes.
He said over two trillion of that debt is owed to the people who have their checks deducted for "Socal Security"..

This way the funds are safe and will be available for those who retire or become disabled..

that is what Thom said yesterday..(do you think he was making this up?)

[kentuck]

1. This is public debt.

We owe it to ourselves. We could write it all off tomorrow if we wanted. Not so, with the debt to the Chinese and Japanese and others.

In effect, SS is not adding anything to our debt, even if it is borrowed by the government, because we owe it to ourselves. The money has already been spent so it should be written off in its entirety.

[judy]

2. Nope, this is true...

Also, another creditor of the US, is the Federal Reserve, and get this, big corporations. So we give them tax breaks, and with the money they save, they don't create jobs of course. They lend the money to the U.S government (who pays interest on it of course) so the US government can go out and kill people in countries where people are already starving.
Just to think about it, and the kabuki theatre we just went through with the debt ceiling makes me want to toss my breakfast :(