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Really? US owes China 1.3 trillion dollars. So the BIG BAD China debt is only 7-8% or less of a single year's GDP. In the grand schemes of things it is pocket
by venomsnake 13y ago
Really? US owes China 1.3 trillion dollars. So the BIG BAD China debt is only 7-8% or less of a single year's GDP.
In the grand schemes of things it is pocket change.
- levosmetalo 13y agoReally? A pocket change? So why the US don't just, you know, pay the debt with the pocket change and regain its financial independence once again?
- awwaiid 13y agoBecause nobody wins. Having the world dependent on US stability is a good thing.
- venomsnake 13y agoA good reason to not pay it off is like the fact that US is borrowing money right now below the inflation rate - people are paying US to keep their money. Also government debt is rarely paid off - it is usually grown out of and revolved. What US lack is economic growth thanks the "serious" people that push for austerity. Also rule of thumb - anyone that uses a country budget is like the family budget analogy is - liar, dumb or ignorant. That is very quick filter by which you could judge politicians.