is that which is owed
; usually assets
owed, but the term can also cover moral
obligations and other interactions not requiring money. In the case of assets, debt is a means of using future purchasing power
in the present before a summation
has been earned. Some companies
use debt as a part of their overall corporate finance
Your idea of what debt is seems ludicrous to me, your debt is "worth something" only because eventually its going to mean that other countries own you. You guys already owe China like 10 000 gummers under the "moral obligation" section of the above definition for them bailing your sorry asses out. enjoy whatever comes next from them, as you clearly have it coming. Just so I can clarify your ignorance (I desperately hope I'm feeding a troll on this one quite frankly) you think that the debt that your country is constantly wracking up is somehow worth a monetary value? In what way could your debt be worth anything to the American citizen other than a burden and future ownership by foreign nations?
Lrn to economy
some light reading material for you, assuming Wikipedia isn't past the learning curve for you on this subject:
"As of January 2011, foreigners owned $4.45 trillion of U.S. debt, or
approximately 47% of the debt held by the public of $9.49 trillion and
32% of the total debt of $14.1 trillion. The largest holders were the
central banks of China ($1.1 trillion) and Japan ($885 billion).
The share held by foreign governments has grown over time, rising from 25% of the public debt in 2007
and 13% in 1988.]
This exposure to potential financial or political risk should foreign
banks stop buying Treasury securities or start selling them heavily was
addressed in a June 2008 report issued by the Bank of International Settlements
which stated, "Foreign investors in U.S. dollar assets have seen big
losses measured in dollars, and still bigger ones measured in their own
currency. While unlikely, indeed highly improbable for public sector
investors, a sudden rush for the exits cannot be ruled out completely."