US national debt tops $34T for first time in history
(share.newsbreak.com)
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (10)
sorted by:
The corporation is bankrupt..not the repubkic
I can find no evidence to support that narrative that stands up to scrutiny. I believe it is a red herring, purposeful fuckery designed to mislead and make people look crazy.
The U.S. Govt is a corporation, by definition (a governmental corporation). The DC municipality is also a corporation, by definition (a municipal corporation). The differences between a governmental and municipal corporation are minimal (for this discussion), having to do with the authority that incorporates them.
The "National Debt" is owed to the Fed, and the people who took out the loans that incurred that debt did so in the name of the U.S. Govt corp, not D.C. corp. So the U.S. Govt has the liability. The U.S. Govt then takes the money from the people to pay off their debt (that's not exactly how it works, but close enough for this discussion). That debt repayment doesn't have anything to do with DC corp as far as I can find, and I looked pretty deep. That doesn't mean there isn't fuckery with the DC corp and US Govt mixup, I think there is. But as far as I can tell, none of that fuckery has to do with who is indebted to the Fed.
In short, the Debt is owned by the people who own the Fed, and the liability is held by the US Govt corporation, which is a governmental corporation that was incorporated with the U.S. Constitution in 1787.