US Debt Clock

I remember the early days of debt clocks, the huge tallying numbers in Union Square in NYC, and rhetoric, always from Republicans, claiming debt doom when Democrats proposed spending and ignoring much larger deficits initiated by their own party.<p>Now we know what utter bullshit that was, not only fallacious on the merits- because governments, especially the US, are not households or businesses- but also that those false narratives and warnings were produced with wholly mendacious intent.<p>We also know about proper data visualization and numeric communication, about picking useful numbers, and presenting them in context; and we know about dark patterns, and lying with statistics, and data malpractice.<p>This page is at best a deceptive curiosity. A more fair assessment is that it attempts to induce anxiety while failing to communicate anything of actual utility or insight. Best to just turn it off, come back with something useful.<p>Free speech, and all, sure. But some speech is garbage. Cheers.

From a Nobel prize winner.<p>&gt; In other words, those dire warnings we used to hear (and will soon be hearing again) that America faces imminent disaster once government debt crosses some red line were always misguided. We weren’t and aren’t anywhere close to that kind of crisis, and probably never will be.<p><a href="https:&#x2F;&#x2F;www.nytimes.com&#x2F;2020&#x2F;12&#x2F;03&#x2F;opinion&#x2F;biden-republicans-debt.html" rel="nofollow">https:&#x2F;&#x2F;www.nytimes.com&#x2F;2020&#x2F;12&#x2F;03&#x2F;opinion&#x2F;biden-republicans...</a>

I am not American but I am interested in American politics for a very long time. I am not very pro-republican or pro-democrat either but what I have noticed that debt clock becomes much more posted when democrat is in the office. When republicans are in power debt clock magically disapears :)

Let’s say the worst case scenario happens. All of America’s creditors demand their money back. And let’s assume none of them are Americans who the US government can tax.<p>What actually happens? All the debt is denominated in dollars. The US will simply print dollar bills that match exactly what it owes each creditor and give it to them. And they’re done. But before they do that, they will create a new currency, the USDNew, replace every existing $ with USDNew on a one to one basis, and then pay back their debt in old dollars.<p>And the US will change its constitution to say it doesn’t need to always honor its debt.<p>And the US will say that old$ don’t matter anymore.<p>What will be the impact? New$ will basically become $. The old debt will be completely wiped out for free. All the creditors who decided to fuck with the US will be growth worthless pieces of paper or bits.<p>The US’s reputation will be damaged and the dollar hegemony will be severely weakened, but a lot of people who keep pushing the “debt crisis” narratives aren’t fans of the dollar hegemony to begin with and believe it hurts US exports and competitiveness.<p>So basically in the worst case situation the US would have enjoyed decades of benefits for the dollar hegemony, and will now take the advantages of those benefits to compete inehat will be a slightly more even global economic market.<p>IOW, the US doesn’t get hurt at all.

Here&#x27;s a dumb question. It says $7 trillion of the $28 trillion is owed to foreign governments. To whom is the rest owed?

The important figure is the bottom line. US total assets and total liabilities. So you see, everything you own is actually borrowed.

The top tech companies are a sizable chunk of that 28T