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Politics : Bill Clinton Scandal - SANITY CHECK
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To: Les H who wrote (28718)1/20/1999 10:11:00 AM
From: DMaA  Read Replies (2) of 67261
 
The part of the debt that bothers me is big chunk of it that is owned by foreign govmt's. Not sure what that fraction is do you?

Seems to me this gives foreign govmt's some potential blackmail leverage over us because of the havoc their dumping of their debt would cause to the markets ( although the threat is somewhat mitigated by the fact that the dumpers would be hurt bad too ).

Of the interest paid to the American debt owners, well that money doesn't disappear but gets recycled back into the private sector. It's insanely inefficient but at least it gets recycled back mostly to people who work, pay taxes, and save. And a big debt does act as a little bit of a governor on the drunken sailor spending habits of Washington.
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