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Kimchijjigae
Yeah, I was wondering where the 200 trillion $ figure comes from.
The national debt of the U.S. refers to the total amount of money that the federal government owes to its creditors. This includes both external debt, which is money owed to foreign countries and international organizations, and internal debt, which is money owed to individuals, businesses, and other domestic entities.
No, the current national debt of the U.S. is estimated to be around 28 trillion dollars as of 2021. The number 200 trillion dollars may be a projection of future debt, taking into account factors such as interest rates, economic growth, and government spending.
The U.S. has one of the highest national debts in the world, but it is not the highest. As of 2021, Japan has the highest national debt at over 11 trillion dollars, followed by China at around 6 trillion dollars. However, when considering debt as a percentage of GDP, the U.S. ranks lower compared to other countries such as Greece, Italy, and Portugal.
The U.S. owes money to a variety of creditors including foreign governments, private investors, and domestic entities such as banks, pension funds, and individuals. The largest foreign holders of U.S. debt are Japan and China, followed by other countries such as the United Kingdom and Brazil.
Having a high national debt can lead to several economic consequences, such as higher interest rates, inflation, and a weaker currency. It can also limit the government's ability to fund important programs and investments, and put a strain on future generations who will have to pay off the debt.