And now we can speak of debt reduction?

Budget Deficit Charts

See the full article here.   And, yes, it can truly be argued that in this instance the Republicans can be rightly credited with “building the federal debt.”  And, no, the Chinese don’t own most of it.   Here’s a picture as of 2011 —

Who owns US debt

Remember the Economic Rule: One man’s debt is another man’s asset.  It looks like the majority of the asset holders are U.S. individuals and institutions, the Civil Service Retirement Fund, the U.S. military retirement fund, and the Social Security Trust Funds.  China and Hong Kong only hold about 7.5% of our total public debt.

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