alt Hacker News"If you owe the bank a million, you have a problem; if you owe the bank a billion..." etc.
And the US owes trillions.
Replies
toolslive • today at 6:19 AM
yes. but most of it is not to other countries. Most government debt (over 80% globally) is privately owned through sovereign debt instruments like bonds.
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That cuts both ways. US entities own huge amounts of overseas assets including debt.
A more appropriate saying would be cutting off your foot to spite your leg.
Thankfully no one has done that yet.