Hacker News Reader

Also, a substantial portion of that $1T is money that the government owes to itself. For example, the Fed purchased a large amount when it was doing QE.

It seems silly to count money that moves from one pocket to another within the Federal government.

View on HN

By that logic it should be fine if the government borrows $999999T (or any other massive number) from itself.

From an interest payment perspective that would be just fine. From a money supply perspective not so good, but that's not what this article is about.

> the government owes to itself. For example, the Fed purchased

Fed and government are separate entities. That debt can't disappear because "we owe to our-self".

Reply on news.ycombinator.com