So pretty sure that’d be a form of institutional capital “parking” for later generations. I could see pension plans buying into them, maybe?
Existing 30 year bonds change hands all the time.
And as another commented, these bonds can be traded long before they mature.
It would be wasteful not to borrow money at near zero rates
Someone gave me this argument recently. Mostly because she would have made a couple thousand in fees. I'd have been out tens of thousands in fees and interest. It wouldn't have done me a lick of good unless I had something amazing to invest in, which means I could have borrowed some money later.
The same actually does apply to the government spending dumb ass Saudi/Japanese tribute money. If they're not investing it in something useful for the future, it's just lighting money on fire.
A surplus would be the government taking wealth in from the non-US government side. Something that sounds a lot more like governmental corruption and waste than the other option. Exactly equalling it out would make the entire economy zero sum.