National Debt of the United States

The federal debt as a percentage of GDP, after falling post WWII, has soared to reach all-time highs.
Note: This includes debt owned by the Federal Reserve
Source: Wikipedia
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+2
Level ∞
Jun 28, 2021
What does it mean that debt is "owned" by the Federal Reserve?

It means that the Federal Reserve prints money and uses it to buy debt. Technically, they are supposed to sell back the debt at some point but it's clear they never will. In a way, it's a tax on everyone who owns U.S. dollars.

Right now, almost all the new debt is purchased by the Federal Reserve using newly-printed dollars.

+1
Level 82
Aug 16, 2018
#winning?
+1
Level 65
Mar 2, 2021
no.
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Level 23
Mar 25, 2021
oh wow