It took Obama years to bring us down from built-in trillion dollar deficits, with no help from the GOP. Now, according to the Bloomberg story below, the Republicans want to borrow and party on the financial backs of future generations, and say nothing about it ...
For the record, one of the reasons this is important is because the Chinese hold 19% - or $1.18 trillion - of the $6.2 in Treasury bills, notes and bonds held by foreign countries (the rest of the $21 trillion debt is held by the U.S. government and the American people). This gives the Chinese considerable leverage over U.S. policies.
For more on this debt story, click here.
For more on why China's purchases of U.S. debt is so important click here.
- Mark
FYI, a simple to read breakdown of who owns the U.S. national debt can be accessed by clicking here.
For the record, one of the reasons this is important is because the Chinese hold 19% - or $1.18 trillion - of the $6.2 in Treasury bills, notes and bonds held by foreign countries (the rest of the $21 trillion debt is held by the U.S. government and the American people). This gives the Chinese considerable leverage over U.S. policies.
For more on this debt story, click here.
For more on why China's purchases of U.S. debt is so important click here.
- Mark
FYI, a simple to read breakdown of who owns the U.S. national debt can be accessed by clicking here.
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