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Originally Posted by stevo22
As seaver pointed out, we owe it to ourselves. Those that hold US treasury bonds are the ones owed the debt, most of those people are american investors, although some are foreign. Its not like we owe the countries around the world 7 trillion dollars. When did we borrow $7 tril from other countries?
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Debt breakdown (as of 1998, but still relevant...if not exactly current):
http://www.brillig.com/debt_clock/faq.html
Note that only 22% of the debt is owed to foreign entities. Also, a whopping 44% of the debt is government-internal debt.
Also note that ANY percentage of the debt is a HUGE amount of money.