Who actually owns the deficit?

Most of us have always thought China owned most of it, right? I've even said so myself, although I was just parroting what other people said, without really knowing the facts (I hate it when other people do that, so why did I do it myself?). Turns out that's pretty far from the truth. Just like Japan, we own most of our own debt domestically. So all the talk about "what if China calls in their markers" really doesn't mean a whole lot (not that it ever did; that's not something they're likely to do anyway).

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

I know a lot of you won't like the source (CNN), so go ahead and verify it elsewhere. I'm pretty sure the numbers will check out.

[QUOTE=RoadToad;460869]Most of us have always thought China owned most of it, right? I've even said so myself, although I was just parroting what other people said, without really knowing the facts (I hate it when other people do that, so why did I do it myself?). Turns out that's pretty far from the truth. Just like Japan, we own most of our own debt domestically. So all the talk about "what if China calls in their markers" really doesn't mean a whole lot (not that it ever did; that's not something they're likely to do anyway).

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

I know a lot of you won't like the source (CNN), so go ahead and verify it elsewhere. I'm pretty sure the numbers will check out.[/QUOTE]

[url]http://en.wikipedia.org/wiki/United_States_public_debt[/url]

This says what you're saying, but does it a little graphically............I bought the kool-aid too about CHINA owning our debt.. It is good to know that we really owe ourselves the most.....which means we can HANDLE this issue ourselves.

Later,

Geo

Good to know. So when do "they" start paying "us" back?

I'm easy to get along with, instead of me paying taxes, send me a check for $50,000, and I'll call my part paid in full.

[QUOTE=HURRICANEBOB;461052]Good to know. So when do "they" start paying "us" back?

I'm easy to get along with, instead of me paying taxes, send me a check for $50,000, and I'll call my part paid in full.[/QUOTE]
I hear ya man, they could keep the check, if they would never tax me ever again.

[QUOTE=HURRICANEBOB;461052]Good to know. So when do "they" start paying "us" back?

I'm easy to get along with, instead of me paying taxes, send me a check for $50,000, and I'll call my part paid in full.[/QUOTE]

You have got to get off the Makers Mark