Open Thread – Government Debt
From the Treasury, as of Tuesday 9/1:
Total US Debt: 11,792,918,170,836.43
Debt Held By The Public: 7,481,218,854,095.12
Intragovernmental Holdings: 4,311,699,316,741.31
Debt held by the “public” includes anything not held by other government agencies. I.e. this is t-bills sold to individuals, corporations, foreign individuals and even foreign governments or sovereign wealth funds.
Intragovernmental holdings a money the government owes the government, such as the social security trust fund.
I contend that the ONLY meaningful number is debt held by the public.
Tell me why I’m wrong.