> A related myth is that the government needs to repay its debt. “Debt” is a misnomer; government debt is just money (or purchasing power) in another form. A $20 bill is a liability of the Fed, which makes it a liability of the federal government. A $20 bill never has to be repaid; it just is. Fundamentally, Treasuries aren’t much different.
A debt-like characteristic is interest. We "owe interest" to those who hold our debt.
A debt-like characteristic is interest. We "owe interest" to those who hold our debt.
https://www.marketplace.org/2023/05/26/who-does-the-u-s-owe-...
> As of July 2023 it costs $726 billion to maintain the debt, which is 14% of the total federal spending.
https://fiscaldata.treasury.gov/americas-finance-guide/natio....