Greek Crisis and American Debt Not the Same

Greek debt was run at 100% of GDP from 1993 to the crisis. Most of the Greek debt was with foreign countries and businesses. American debt, however, is different. Half of its debt is owed to itself. The Federal Reserve, which is a government institution, "loaned" the American government 5 trillion dollars. Therefore, when you hear fear mongers warning about the end of the world due to a debt crisis, just remember: they don't know what they are talking about.