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**ticfarentibia** · 08-29-2012, 09:09 AM

We owe about a trillion to China, out of a little less than 4 trillion we owe to foreigners. Most of the debt is owed to wealthy American citizens, who were able to lend the money they saved with lower taxes to the government, to finance those tax cuts.

http://www.ustreas.gov/tic/mfh.txt

I was gonna say, most of our debt is owed to 'ourselves' effectively.

Also, how much of the other countries debts in the world are owed to the US for 'loaning' them money? If all of those other countries paid us back what we've loaned them, would we break even?

Also, as alluded to by other posters, scaling debt by GDP is the most relevant figure, because it shows how hard/easy it will be to pay it back.

08-29-2012, 09:09 AM	#33
ticfarentibia Join Date Oct 2005 Posts 449 Senior Member	We owe about a trillion to China, out of a little less than 4 trillion we owe to foreigners. Most of the debt is owed to wealthy American citizens, who were able to lend the money they saved with lower taxes to the government, to finance those tax cuts. http://www.ustreas.gov/tic/mfh.txt I was gonna say, most of our debt is owed to 'ourselves' effectively. Also, how much of the other countries debts in the world are owed to the US for 'loaning' them money? If all of those other countries paid us back what we've loaned them, would we break even? Also, as alluded to by other posters, scaling debt by GDP is the most relevant figure, because it shows how hard/easy it will be to pay it back.
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