China will not be lending the US much more money, wants US currency replaced!

[dahuman]

Zlejedi said:

Soleron said:

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?

Great idea. Hmm remind me when does the next election in USA start ? :)

it's not going to matter, not how politic works, there are too many hurdles and bullshit to overcome even if the elected official wants to really change something.