Yes they do. to the US government.
Why do you feel the US government needs to borrow FRNs? where do you think that federal reserve note in your wallet came from then?
Why would the Treasury repay anyone for my $20? You're not making any sense.
the treasure won't repay them. You will. through your taxes. what do you think it means to pay "interest on the debt"? look at the graph I just showed you. That's your obligation to the federal reserve.
Yes they do. to the US government.
Where does the US government spend FRNs?
what do you think it means to pay "interest on the debt"?
That's interest the Treasury owes on bonds they sold. Not on FRNs.
That's your obligation to the federal reserve.
No it isn't.