Quote Originally Posted by maladroit
the rest of the country seems content to pass that tab on to future generations...their grandkids are going to be very angry at the sacrifices they will have to make for the current excesses...americans have been borrowing money from their grandchildren to finance an artificially high standard of living
This is a common misconception. Around 75% of all US debt is held internally. That means that 75% of treasury yields go to America and its citizens in one form or another. Hardly the zero sum game you make it out to be:jointsmile: