Quote:
Originally Posted by DirtyWhiteBoy
The Grace Commission Report that was given to Ronald Reagan, per his request, says that our tax dollars (personal income tax) goes 100% to pay off the interest on the national debt.
If something has come to light since this report, please let me in the loop, I'd like to know about it.
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well, you are confusing the national debt with loans made by the federal reserve. the frb loans money to banks which the banks pay back to the frb+ the interest.
the national debt is comprised of debt held by the public & is all federal debt held by states, corporations, individuals, and foreign governments, such as Treasury Bills, Notes, Bonds, TIPS, United States Savings Bonds, and State and Local Government Series securities.