Breakdown of world debt by country. According to the IMF, total debt is $63 trillion, and the US is responsible for nearly one third of that amount. https://goo.gl/tH8q54 pic.twitter.com/KT91B9EQEJ
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Much of the debt is owed by a government to its future-self. When a government needs money, it sends an order to the central bank, which then prints the money and indebts the govt. Making money out of thin air in the hope that it can be paid in the future (thought it never can).
*though
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