Pay up! You owe China $3,719

posted by
September 29, 2011
Financial Sense
by Cris Sheridan  
Posted in Commentary

"In June 2011, the total US public debt -- the grand sum of money we, as a nation, have borrowed and must pay back -- added up to $14.3 trillion. Roughly 31% of that is held by foreign countries, a fact which is an international cause for concern: if we don't pay up, we're not the only country that will suffer. China, Japan, and the UK are our most oft-discussed debtors, but more than 50 countries are patiently waiting for us to pay them back. Though this is technically money that our government owes, the consequences of this obligation trickle down to every one of us. We all have to pay the debt, in one way or another."(09/28/11)

http://bit.ly/qcsZBe  

Tags:

  • The politicians borrowed it. Let the politicians pay it back.

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