Okay, someone explain this to me.

They keep saying "we are $30 trillion in debt" and "our kids are going to have to pay it" and "sovereign debt is going to be the end of us" etc. etc. etc.

But they *also* say that the money is printed out of thin air and lent to the government by the Federal Reserve.

So...Who do we really owe that money to? If I magically had a check for $30 trillion or so and wanted to pay off the debt, whose name goes on the check, and where does that money eventually go?

Help me out. The whole thing looks like a bunch of smoke and mirrors.