We Aren't Owned by China Afterall....

[onlyadream]

I thought this was interesting:
the U.S. is more in debt to the American people by way of Social Security & Medicare, the very programs that the GOP wants gone.

•Hong Kong: $121.9 billion (0.9 percent)
•Caribbean banking centers: $148.3 (1 percent)
•Taiwan: $153.4 billion (1.1 percent)
•Brazil: $211.4 billion (1.5 percent)
•Oil exporting countries: $229.8 billion (1.6 percent)
•Mutual funds: $300.5 billion (2 percent)
•Commercial banks: $301.8 billion (2.1 percent)
•State, local and federal retirement funds: $320.9 billion (2.2 percent)
•Money market mutual funds: $337.7 billion (2.4 percent)
•United Kingdom: $346.5 billion (2.4 percent)
•Private pension funds: $504.7 billion (3.5 percent)
•State and local governments: $506.1 billion (3.5 percent)
•Japan: $912.4 billion (6.4 percent)
•U.S. households: $959.4 billion (6.6 percent)
•China: $1.16 trillion (8 percent)
•The U.S. Treasury: $1.63 trillion (11.3 percent)
•Social Security trust fund: $2.67 trillion (19 percent)

So America owes foreigners about $4.5 trillion in debt. But America owes America $9.8 trillion.




http://globalpublicsquare.blogs.cnn.com/2011/07/21/who-owns-america-hint-its-not-china/?hpt=hp_bn2

[LaurenG]

1. •Social Security trust fund: $2.67 trillion (19 percent)

Geezus!! The largest % is owed to us. Crap. :mad:

[iwishiwas]

2. Nice to have a large family to borrow from.

[Kaleva]

3. I wouldn't say "crap". That's actually good.

If one was looking at their monthly budget and overall finances and saw that the largest portion of their debt was money they owed themselves, I would say that would be a good thing.

[LaurenG]

5. How is that good? I don't get it. nt

[Kaleva]

6. It's gives a great deal of flexibilty on how to handle that debt.

[LaurenG]

7. Or if you are a cynic like me it basically turns into the governments way of

cutting benefits for retirees if they don't think they can pay it back.

That money was never theirs to spend anyway. :mad:

[onlyadream]

4. what if it never existed?

Then what? What will they plunder if they ever dismantle SS & MC?

[sarcasmo]

8. Republicans want them gone because they don't want to pay them back.

[lunasun]

9. yes but foreigners sounds nicer to default on and most wont notice it is JQPublic getting the screw

The stupids like to fantasy play getting one over on China instead of the ones that sold them out right here