Soleron on 07 August 2011
| Kantor said: Fun fact: China does not own all of America's debt. Not even close. They own somewhere in the realm of $1.2 trillion of it, which makes them the single largest holder, but still puts them below 10% of the total pie. Indeed, only $4.5 trillion of the $14.5 trillion debt is held by foreign countries. A great deal of it is held by the government itself. |
Yes. Most of that is pensions. I actually think they should just say "All pensions are cut by 20%" and then the debt would be correspondingly reduced. If spendng cuts are on the table why not pension cuts, as they would have much more effect on the debt?
