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Our national debt is so much that we need to give half a Google to China each year
by coding123 2y ago
Our national debt is so much that we need to give half a Google to China each year
- dukeyukey 2y agoChina only owns about $800 billion is US treasuries, so a one-time payment of 40% of Google should do.
- diob 2y agoTo be fair, debt isn't an indicator of anything but credit being used to build something now (aka an investment in the future). So we should be focusing on what that debt is being used to fund, more than the debt itself. In my opinion at least. Overall I agree though, the debt is massive and isn't actually being used to better anything within the USA.
- zamadatix 2y agoChina owns < half a Google of US debt (i.e. ~0.84T). I think you conflated that with yearly debt payments instead.
- lokar 2y agoOther nations holding us debt is a natural result of both the trade deficit and the USD being the world reserve currency. There is nothing really special or sinister about china holding US bonds.