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Originally Posted by WillyPete
If they did that, all those people and industries that have leant the US govt money by buying treasury bonds will lose everything they invested.
Essentially, it would be the govt saying "We're not paying you back."
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I know I don't understand this very well but not all the national debt is in T-Bills/Bonds is it? Don't we run a deficit every year and the fed issues more money and what we spend over that which is collected in taxes etc.. just gets added to the debt?