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We don't have that $700 billion (or trillion, depending on how you look at it). We're in debt up to our eyeballs, remember?
That money will be borrowed, probably mainly from the Chinese government (if they're still willing to take the risk) via T-bills. So we'll be paying back far more than a trillion.
We've sold so much of our economy and industry to foreign owners that even when/if the economy recovers, it will never be the same. We're headed towards permanent second-world status, living at the whim of ultra-rich overlords from countries with absolutely no history of or respect for democracy, human rights, and civil liberties.
