America’s $40 Trillion Debt: Who Really Pays? - SchiffGold.com
America’s $40 Trillion Debt: Who Really Pays? - SchiffGold.com
Source: SchiffGold.com
―
DW NOTE
The $40 trillion figure includes debt the federal government owes itself — money Social Security "lent" Treasury that will never be repaid in purchasing power terms. Strip out the intragovernmental holdings and you get $28 trillion in public debt. That's the number foreigners, pension funds, and the Fed actually hold. The difference matters because one is a real liability that constrains fiscal space; the other is an accounting fiction that lets politicians pretend they funded your retirement.