Can you explain the US debt crisis

Benji49 said:
"Foreigners hold about 47 percent of US public debt. And yes, the largest foreign holder here is China – but only by a hair. Chinese investors are owed 9.8 percent of US debt. Next comes Japan, at 9.6 percent, and the United Kingdom, at 5.1 percent.

Oil exporting nations as a group, including Saudi Arabia, Oman, the United Arab Emirates, etc., account for about 2.6 percent of US debt. Brazil has 1.8 percent. The rest is split among lots of other countries.

So if anybody tells you that Americans work for China now, since they hold all our T-notes and can yank our fiscal chain, tell them that’s an exaggeration."

National debt: Whom does the US owe? - CSMonitor.com

Lots of hysteria here. I do laugh when the ratings agencies threaten to downgrade US Treasuries. Oh yeah Moody your opinion matters to me. Like I'm gonna buy Chinese yuan or Russian roubles.

Prem's getting big in US Treasuries UPDATE 2-Fairfax sees Treasuries as solid long-term bet | Reuters

He's a contrarian who has money than, um, everybody on wicked fire combined like ten times over.

You guys keep drawing conclusions from what the numbskulls on CNN and Fox fart out of their backsides. Look elsewhere for enlightenment.
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Nearly 20% just to China and Japan, that is almost half of all foreign debt. Crazy...
 


taktikz said:
Public Debt is all the obligations of the federal government to everyone outside the federal government (states, institutions, etc)
Total Public Debt is with the government included.

China owns the most securities of the US because they "loaned" us the money by buying our "securities".
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actually we own the most securities of the US. China owns about 9%
 
It's pretty simple actually..

These slick politician marketers have successfully pushed a ton of shitty ass rebills onto the US government in the form of ridiculous programs. The problem is they didn't read the fine print, and while they thought the immediate political benefits would be worthwhile, they didn't realize those jacked up monthly rebills add up pretty quick. Of course no one ever checks these monthly credit bills and procrastinates cancelling the shitty services because of the headache of dealing with these scammy rebill offices who seldom answer the phone.

Those senior citizens in office are now realizing all those acai and colon cleanse kits they signed up for using the company credit card are costing a bit too much. Far too much actually, more than the entire company is earning.

So the dumb shits are starting to panic because their mouth signed a cheque that their ass can't cash. READ THE FUCKING TOS MORONS!
 
If only we had contacted Kevin Trudeau!
...Much of this mess could have been avoided!

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-=Chipmunk=-
 
debt is what keeps the world going 'round. think it will ever be paid off? of course not. this is the new world economy, bros. skyscrapers built on 1's and 0's.
 
one thing i like about USA, It take loans from other and at the time of payment they give dildos :P with a dialogue " have fun with blink"
 
Well judging by the graph on the BBC article today, the debt went from 5.5 trillion to 12 trillion when Bush was in power. Kinda pokes a whole in this whole "hate Obama" thingy?

Anyway, not my country but will you please raise the ceiling and hurry it all up? Oh and don't vote any more Bush's in. If America defaulted then .... No modern economies would survive, perhaps Afghanistan would be left the richest country.
 
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