Quote:
Originally Posted by Paper1
Actually no, this money is coming from our grandchildren's futures not current taxpayers. That is why there is little concern.
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Partially true. The Fed funds the national debt by selling treasury bonds but the bond’s repayment is not deferred until our posterity rises up to repay them. Repayment starts immediately and will continue until the bonds are paid in full. Many pension funds, investment funds, unions, governments, banks and big businesses as well as individuals, foreigners and their governments buy US treasury bonds because they are literally as good as it gets for reliability since they are backed by the full faith & credit of our government. Treasury bond payments are ultimately funded by all taxpayers.
If you are really concerned about US debt, our “entitlement programs“ (social security and welfare) are the biggest federal budget line item every year and they are ballooning ever year. Let’s hope our posterity doesn’t push for huge budget cuts anytime soon.