Their latest $1.9 trillion, of mostly pork spending, will take this debt to over $90,000.
To cover your family of 4, please submit a one time payment of $360,000, to the IRS, by April 15, 2021.
Pre-authorized $1,000 daily payments are being considered for those with exceptional credit scores.
I think a lot of folks are confused as to the actual nature of our National debt. The debt is funded and backed by Treasury bills (T-bills). You know the guaranteed low interest notes that every hedge fund, 401k, G-Fund (TSP) buy a percentage of for the stability. These are guaranteed return, albeit very low return. If the stock market crashes, you dont lose everything because the T-bills are stable. What this means is China owns approx 3 trillion, followed by Japan at just over 1 trillion. The vast majority left over is in private investors that have diversified their portfolios and most of our hedge funds, 401k's etc. We own most of our debt. If we can't afford to pay the interest, (which is somewhere over 900 billion per year) our credit goes into the toilet, the US dollar loses all or most of its value. The whole system is flawed. Our government should have never been able to sell debt.