Similarly to the US, the majority of Canadian government debt is held by Canadian citizens.
Completely false. http://www.guardian.co.uk/news/datablog/2011/jul/15/us-debt-how-big-who-owns
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...the US national debt is owned mostly in the US...
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US Treasury bonds owned overseas accounted for $5.4tn of the national debt . . . the US now owes over $16tn
That second quote would seem to indicate that only 33.75% of the U.S. debt is held by entities outside of the U.S. and that the remaining 66% (which would seem to indicate a "majority") is held by entities within the U.S.
U.S. debt held by the U.S. Government is effectively nullified. It's like loaning yourself $10. That has two ramifications -- 1. U.S. debt is actually much lower than reported. 2. Debt held by foreigners is actually much higher (as a ratio) than reported.
I think you'll find that I was commenting specifically on the article linked to, and not on the actual state of the U.S. debt. The article was posted as proof that the majority of U.S. debt is not held by U.S. citizens, and I was simply pointing out that the article indicates that the majority of U.S. debt is held in the U.S. Therefore, regardless of whether your assertions about the government loaning to itself are true, my statement that the article states the opposite of what knight22 indicated is still true. Note that the article posted says nothing about the government loaning to itself. 
