THE SKY IS FALLING!
Posted on 03/04/2006 3:13:51 AM PST by hawkiye
Total foreign ownership of US Federal deficit currently stands at 45% as of end of first half of 2005 COUNTRY OWNERSHIP OF U.S. GOVERNMENT DEBT
Japan $687.3Billion
China $252.2 Billion
United Kingdom $182.4 Billion
Caribbean Banking Centers $102.9 Billion
Taiwan $71.8 Billion
Germany $63.5 Billion
Korea $61.7 Billion
OPEC $54.6 Billion
Hong Kong $48.1 Billion
Canada $47.8 Billion
Grand Total $2,065.5 Billion
Conclusions:
* Foreign sources financed 54% of US Federal deficit in 2002, 73% in 2003, and 99% in 2004
* Total foreign ownership of US Federal deficit currently stands at 45% as of end of 1st half of 2005
* The US Government currently owes Japan $687 Billion, China $252 Billion, and Korea $62 Billion - together $1.0 Trillion
* The US Government currently owes $2.0 Trillion to foreign lenders
THE SKY IS FALLING!
It's too late.
Welcome to election year 2006, "protectionism"
More likely China and Japan start grumbling, "get your house in order or we stop buying your bonds." How? "Raise taxes lazy Americans. Raise taxes..."
The problem isn't that foreigners own this debt. If there is a problem it's that the debt exists at all regardless of ownership. I think it may be Senator Colburn who is the point guy in finding the solution.
What is your problem? Are you capable of an intelligent conversation or are you just into 3rd grade antics?
Can you explain to me why you think being trillions of dollars in debt and growing to foreign nations some of them potential enemies is a good thing?
I thought this was a conservative site, what is wrong with being fiscally conservative?
like this is breaking news or something.
It's breaking news in that we're reaching levels never before seen in the history of the nation. People talk about "peak oil." My fear is that we're reaching "peak debt."
compare it to Reagan, percentage wise.
Works like this, we got thier stuff, they got a lot of paper. They better make sure the paper stays good, eh?
Works like this, we got thier stuff, they got a lot of paper. They better make sure the paper stays good, eh?
Yeah, that strategy worked out sooo well for South America and Africa.
The problem is that we can't balance a budget. That should be the focus of your concern.
That Congress can't get beyond 3rd grade antics and balance the budget is the bad thing.
That other nations are willing to finance our budget deficit is a good thing.
If other nations didn't finance our deficits, you would have to.
Ahh, if the Japanese wanted a strong yen, they would raise the interest rates in their domestic markets, instead of loaning money at 0% interest. Presumably the central bank of Japan was offering 0% loans to the best customers, maybe other banks. Japan wants a weak yen compared to the dollar because of the strong export base of their economy, same with China. Now Japan is seeing price inflation, so they may soon need to get off of the 0% interest loans.
If China does invade Taiwan, in an effort to crush the resistance, trade will likely be affected in a negative manner. If China takes on Japan, things could get uglier.
...Bush I had to raise taxes, despite campaign promises, and Clinton won the election with the subtext slogan, "It's the economy, stupid."
Every bill always comes due. Always.
Then again, maybe Bono will start lobbying the Chinese on our behalf for debt relief. That may help.
Gotta disagree with you there. If they didn't and congress tried to get us to do it then we would finally have enough people wake up when their taxes went through the roof and vote the bastages out.
So then you don't believe in growing the ecomony?
If I owe you a hundred BILLION dollars and don't pay, who is in trouble now?
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