Monday, February 16, 2009

Who do we owe our future to?

If any of you folks who check in here from time to time could help me, I'd appreciate it. Here's my question:

Why holds our national debt? I mean, if the government is spending more than it is taking in, where is the money coming from?

If we're borrowing it, who is lending to us? And what have we put up for collateral? What are we putting up for collateral on this latest spending spree?

If we don't pay it back, what happens?

You don't have to write something long, if you don't want. Just point me to a reputable website.

Thanks.--RDH

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