BEIJING: A Website, called, shows real time figures of the United States of America national debt. Meanwhile, China, holds nearly 10 percent of all U.S. Treasuries. Accordingly, a sharp sell off of those bond holdings could wreak serious havoc on the global economy.
AboutNews reports that, "Foreign governments hold about 46 percent of all U.S. debt held by the public, more than $4.5 trillion. The largest foreign holder of U.S. debt is China, which owns more about $1.2 trillion in bills, notes and bonds, according to the Treasury."
Additionally, President Barry Obama and Democrats could lose control of the U.S. Senate if a financial crisis erupts before mid-term elections.
According to AboutNews, "To put China's ownership of U.S. debt in perspective, its holding of $1.2 trillion is even larger than the amount owned by American households. U.S. citizens hold only about $959 billion in U.S. debt, according to the Federal Reserve."
Didn't Obama pledge to balance the federal budget when ran for the White House in 2008? Wasn't that part of his "Hope and Change" message for voters?
To read the entire article from Liberty Post, link here: To view the U.S. Debt Clock, link here: