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Chart: Half of Public Debt Owned by Foreign Entities
Posted by Randy | September 01, 2010

This chart shows an alarming truth – nearly half of our public debt is owned by foreign nations, like China.

 

(chart from gop.gov)

I believe this is wrong. That’s why I have not only voted against all of the bailouts and stimulus packages that have added to our skyrocketing debt, but also cosponsored the Cap the DEBT Act. The premise of this commonsense bill is a simple – require a two-thirds vote by the House and the Senate to raise the debt ceiling. You can read more about it in this post.
Comments
The opinions expressed below are those of their respective authors and do not necessarily represent those of this office.
  • Nellie McConnell commented on 9/11/2010
    You are right and I have been trying for years too "NOT" buy foreign products. The imports are putting American companies out of business. The import of produce from Mexico is putting our farmers out of business! They can't compete with the low cost of these imported products. These imports are not cheap! When you have too buy a new frig, 2400 dollars and it only last 5 years, tops! This is not cheap! BOYCOTT FOREIGN PRODUCTS UNTILL OUR GOV BRINGS HOME THE JOBS. OUR GOVERNMENT IS THE CAUSE OF THE MFG GOING TO CHINA. OBAMA WILL BURY THIS COUNTRY IN DEBT SO WE ARE OWNED BY "CHINA" AND OTHER FOREIGN COUNTRIES. ILLEGALS AND BIRTH RIGHT HAS TOO GO! WE ARE NOT SAFE! I LIVE 70 MILES NORTH OF THE MEXICAN BORDER. CA HAS OVER 51% ON WELFARE PLUS THE E-VERIFY IS NOT USED IN ALL PLACES.
  • John Monk commented on 9/11/2010
    I agree with your assesment that it should take two thirds vote by the House and the Senate to raise the debt ceiling. I think there should be a similar safety in place for anytime the subject of giving money to a foreign nation comes up. We have homeless and unemployed people here in our country who need our help. Rather than use our money to stimulate jobs and save local businesses and families we give our tax dollars to foreign countries to build mosques. I never in my wildest dreams would take money my own country that is in need to give to people that hate the U.S. in order to build them new buildings. I also disagree with allowing the building of a mosque at or near ground zero. This is a very large country and there are plenty of locations that would be less offensive to those families who lost loved ones to that tragedy.
  • DANIEL FISCHER commented on 9/11/2010
    It would have been nice if the dollar figures owed accompanied the various sections of the pie chart. Haaving said that, I wonder if any priorities have been assigned to payment. Certainly, if we are giving foreign aid and at the same time owe a country, the foreign aid should be considered as payment of a portion of that debt or payment in full if that is the case. Hopefully our representatives will work out the debt problem. It wll only work if we stop spending. Anyone that keeps a check book knows that.
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