Because the government pays interest to holders of Treasury securities.
Then who benefits?
Answer: it's a secret of the 'Fed's. The individuals behind the 'Fed' curtain can create money out of thin air and reap an interest on it at a rate that they decide for themselves.
LOL! Except for overnight money (Fed Funds), the Fed does not "decide" interest rates.
Who might these mysterious individuals be?
I heard they're Joooooooos.
Our government can create money the same as they and it would eliminate mounting interest payments and begin the process of paying down the debt.
The Fed returns it's "profits" to the Treasury each year.
If Aaron Russo doesn't know this, he's dumber than someone who'd post his B.S. on FR.
It's pretty clear you do not know what you are talking about. This was a discussion I had with 'theBuckwheat' poster who clearly has sound knowledge; I'll stick with theBuckwheat. Please remove me from your ping focus.
Exactly so!