12 years ago
1
Newsflash: Claiming that China is America’s “banker” is misleading and racist
Just to get one thing out of the way, though it is irrelevant, China owns a little under 8 percent of American sovereign debt. If that seems like a small amount to you, then you are very perceptive. In fact, most of the U.S. government’s debt is owned by … the U.S. government itself, as this handy graph makes clear. The Social Security trust fund alone has twice as much invested in Treasuries as China does. In the market for U.S. Treasury securities, China is by no means the dominant player.
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"The Social Security trust fund alone has twice as much invested in Treasuries as China does."........... Folks, "Treasuries" are no more than promises to pay,........ from future U.S. tax dollars......So much for the Social Security "trust fund", yet it even draws interest, LOL