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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction -- Ignore unavailable to you. Want to Upgrade?

To: Cogito who wrote (53173)	11/7/2006 7:40:39 PM
From: Ichy Smith	Read Replies (1) \| Respond to of 90947

The bulk of our national debt is owed to Asian countries, especially China. It is currently well over 8.5 trillion dollars and growing. So institute a tax on items coming from China and pay them off. and toss the Korea problem entirely in their lap while you are thinking about it.

To: Cogito who wrote (53173)	11/14/2006 12:14:02 PM
From: TimF	Respond to of 90947

The bulk of our national debt is owed to Asian countries, especially China. That isn't true, although things are moving in that direction. "U.S. Treasury statistics indicate that, at the end of 2004, foreigners held 44% of federal debt held by the public." en.wikipedia.org That's from almost two years ago, but some of the additional debt has gone to Americans, and the debt is large enough compared to the annual deficit that it hasn't gone over 50% yet. Even when it does non Asian individuals, companies, and central banks own a portion of the debt, so its still won't be true that the bulk is owed to Asian countries. I'm assuming "the bulk" means at least "over 50%". It might be taken to mean an even greater percentage. I don't see how it can reasonably be taken to mean less.