One of the reasons that they spend with abandon is that all the interest the government pays to the FED minus a small fee comes right back to the Treasury. The FED owns between 16 and 20% of the debt. Foreigners hold about 30% of the debt. Here is some good info on debt ownership. https://debtinflation.com/what-percentage-of-us-debt-does-the-fed-own/#Did_the_Federal_Reserve_buy_all_of_the_new_debt
One of the reasons that they spend with abandon is that all the interest the government pays to the FED minus a small fee comes right back to the Treasury. The FED owns between 16 and 20% of the debt. Foreigners hold about 30% of the debt. Here is some good info on debt ownership.
https://debtinflation.com/what-percentage-of-us-debt-does-the-fed-own/#Did_the_Federal_Reserve_buy_all_of_the_new_debt
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