@DrALJONES@Thebratdragon
Yes the idea of a National Debt is a political fiction, but the narrative around that fiction varies depending on the country. I understand the reality, but I'm of the impression in the UK that BS is maintained by convention, and policy changes at the Treasury & BoE could dispense with it. Whereas in the US there are Laws in place requiring the Treasury Dept & Fed to act like it's true, and significant legislation would need to be passed in order to change that.