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It's both, although an extremely low percentage of people, IIRC, actually "cash out", most just roll the funds into a new bond once the previous one matures.

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So you mean 800B includes the principal repayment?

As far as I know, only the interest is considered as an expense. The principal is not accounted but I might be corrected.

It does, but like I said most people just automatically buy new bonds, instead of actually removing the money from the Government.

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