Ka-pi96 said:
mountaindewslave said:
the USA debt is actually almost equally owed to China AND Japan, something people often conveniently forget to mention. only about 10 % of their debt has been borrowed from China and 10% from Japan. the vast majority of the USA debt is actually internal, pulled from the country's own social security system. essentially the USA for the most part is not in debt in the traditional sense. They have in a way axed and damaged internal programs in the future, but do not in fact owe other countries that much
again something likle 80% of the USA debt is internal, borrowed from their own programs
anyone claiming that China or the like could stronghand the USA economy by requesting their money back is delusional because A: it's really not that much (again 10% or so of debt) and B: the Chinese economy relies almost entirely on imports sent to the USA
I think its also important to bear in mind that the USA GDP is large enough that if legislation was passed to dramatically change government programs, the debt could be dealt with very effectively in a 5-10 year plan. of course thats easier said than done, but few countries in the world are capable of fixing their own problems like the USA potentially can
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eh? How does that even work? I don't think debt works that way?
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You can incur debt that way. When money that is owed to others is used for purposes it wasn't meant for, in effect they are borrowing/stealing from the american people. however the silly part of that statement is not the debt, it is the implication that the china and Japan debts are small, a trillion dollar debt is massive even if it is only a small part of what they owe and would definitely have a huge economic impact, not to mention that is only the public part of chinese and japanese investment, there is trillions more in property and commercial investment that could be withdrawn as well if they really wanted to hurt the US economy.
