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[quote user="blownout cylinder"]Also---who gets the payments on that debt?[/quote]   Uncle Sam gets the payments on that debt, and he will pass them on to the citizens of the United States through higher taxes.  And if the citizens refuse the higher taxes, Uncle Sam will print money, or monetize the debt as it is called.  This is a marvelous procedure that allows Uncle Sam to withdraw money from all of the citizens’ savings and retirement pensions while those citizens are not paying attention.
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