So are we borrowing from China .42 cents for every dollar spent, or is the Federal Reserve printing new money out of thin air? Which is it, and don't say both, because it's one or the other?

If its the first, then why is the Fed printing money?

If its the latter, then why doesn't the Fed just print up $16 Trillion dollars and pay off the debt, then reduce the money supply back to normal. Wouldn't that be faster than waiting for QE Infinity?

Is the debt real?