Look at the bottom link to the .gov site, which has data showing the national debt back to the founding. The nation has always had a debt, and it also has debt owed to it. When people talk about things like the debt ceiling being raised they are referencing how much money the US government has agreed to pay back on those loans. For the most part all countries pay only the interest on loans they own and receive the interest owed to them from loans outstanding.
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IShouldNotTalk ago
Look at the bottom link to the .gov site, which has data showing the national debt back to the founding. The nation has always had a debt, and it also has debt owed to it. When people talk about things like the debt ceiling being raised they are referencing how much money the US government has agreed to pay back on those loans. For the most part all countries pay only the interest on loans they own and receive the interest owed to them from loans outstanding.