[mnehring]

The article says the u.s. debt is owed to the the american people. That would be true only if these people own U.S. treasury bonds. Period. The U.S. Public debt is owed to the holders of those U.S. Treasury bonds Where do you think that banks, companies, and other investments hedge much of their capital? Like it or not we are all tied to T-Bonds than you realize. T-Bonds provide short and long term stability to most of our employers. T-Bonds keep the US dollar strong against a ever-changing world-wide economy. Don't agree, most economists will tell you that the recent slip in the dollar is due to the EU offering an alternative to the US T-Bond that has not been seen before. It shows how closely our economy has been tied to T-Bonds.

[Orangedog]

T-Bonds keep the US dollar strong against a ever-changing world-wide economy.

Yeah, they've done wonders against the euro lately. [/sarcasm]