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The United States is roughly $17 trillion in debt, but President Barack Obama says there’s no reason to worry.
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yeah really no debt crisis who is the country even owe, a country that can create its own money?
Doesn't matter who you send o Washington they will b corrupted.
Funny guy, this Obama fellow
China not to get a PENNY!
China cann't buy nothing in US with their dollars...
"No tanks in Baghdad" either!
The re never are!
We have no national debt problem because we are a nation with a non-convertible fiat currency, a floating exchange rate, and no debts in currencies that are not our own. We can always generate new currency to pay our obligations. Oops, "If we print too much money we’ll have inflation, like...
The Weimar Republic!who was forced into hyperinflation by post-WWI reparations, which had to be paid in gold or product. U.S. inflation has not been caused by federal spending, but by oil prices. The U.S. government is sovereign over the dollar, it can set the value of the dollar at any level it wishes.
Both China and the USA are monetarily sovereign. Both control every aspect of their respective currencies. Neither nation needs to borrow their own currencies, of which they can both produce endlessly. The US "borrows" by CHOICE, not necessity. If China wished to "call in" their holdings of US "debt", the only thing that would happen would be the "funds" in their savings account at the fed would be transferred to their reserve account at the fed. It's an asset exchange, nothing more. The "loss" of those 1.2 Trillion in govt securities would barely affect the exchange rate of the dollar, and then, only temporarily.
Federal borrowing is nothing more than the shifting of dollars from reserve accounts at the Fed to securities accounts at the Fed.
And paying down the Federal debt is nothing more than the shifting of dollars from securities accounts at the Fed to reserve accounts at the Fed.
I would like to know waht will Obama do when the housing market crashes in China and they call in our loan to save themselves? Does he have a plan and this is going to happen as it was reported on 60 minutes, that China is headed toward a downturn as our market did. Hope all this Hopey Changey works for all the Liberal Socialist then. Americans need to take them selves out of government day care and learn to think and od for thememselves as our depression era Americans did.
America owes America more money than America owes China
Where will the taxes come from when Obama care becomes effective? All small buseness goes under.
Per the illuminati's instructions, move them all to the cities, then move them back out.
That's true, the USA doesn't have a crisis in debt. They can borrow as much money as they like. What they do have is a crisis to pay it back, and have no intention of ever paying it back.
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