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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: jlallen who wrote (576623)	5/19/2004 12:19:22 PM
From: DuckTapeSunroof	Respond to of 769670

(Of course I agree --- you are talking sense :) Yes, those are some really big debt numbers (and the '$10 Trillion' or so for government debt understates it quite a bit, as it ignores various things such as commitments for future transfer payments, etc). But, what makes is potentially a fast-moving crisis, is the very high level of foreign ownership of our Treasury and Agency debt... which is somewhere north of 40% right now. The instant any of the biggest foreign buyers (China, Japan) decide to not bid at the auction (or start selling down their massive hordes of bonds) --- we will soon have HUGE problems.