I think he is referring to the billions of dollars of US treasuries that are owned by foreigners. Since We the People are the issuers of such debt, by proxy we owe money to foreigners.
So, 300,000,000 Americans times $40,000 each equals $12 trillion. I don't suppose you or he have a source that shows foreigners own $12 trillion in Treasuries?
Since We the People are the issuers of such debt, by proxy we owe money to foreigners.
So, by proxy I own a portion of ANWR and a slice of the Grand Canyon? Sweet?