Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

2016 Postmortem

smorkingapple

(827 posts)

1. worst part is we don't "borrow" from China

Reply to Drunken Irishman (Original post)

Sun Oct 7, 2012, 03:16 AM

Oct 2012

I wish people really understood what government "debt" is, what the "deficit" means and why it appears China "borrows" from us..

Long story short, China needs US debt as a place to stash the dollars we send them for the shit we buy from them... We're not borrowing anything...

Edit history

Please sign in to view edit histories.

14 replies

= new reply since forum marked as read

Highlight:

Gov. Romney says he won't borrow money from China to pay for PBS... [View all] Drunken Irishman Oct 2012 OP

worst part is we don't "borrow" from China smorkingapple Oct 2012 #1

I have one of those on my Facebook page davidpdx Oct 2012 #4

China has stopped buying US Treasuries Ian62 Oct 2012 #6

FINALLY MJJP21 Oct 2012 #9

Romney's as Idiot Drudge Bucket Cha Oct 2012 #2

he's a chickenhawk who pimps for war Skittles Oct 2012 #3

Here's a CHART - the bottom section shows who holds our debt (China not as much as others) Tx4obama Oct 2012 #5

US National Debt from 1950 Ian62 Oct 2012 #7

China's holdings of UST's is now about $1.1tn Ian62 Oct 2012 #8

And yet Romney is prepared to borrow circa $1.5tn p.a. Ian62 Oct 2012 #10

I can't believe this asshole went after Sesame Street again. They receive very little money from Monk06 Oct 2012 #11

PBS annual funding = 6 hours of Pentagon spending RichGirl Oct 2012 #12

He'll borrow money from China to pay for huge new mansions and car elevators alcibiades_mystery Oct 2012 #13

This thread has been brought to you by the "greater than" sign. tarheelsunc Oct 2012 #14