This is such a stupid lie. At best it is intentionally misleading. If a politician says this they are INTENTIONALLY misleading the public OR completely IGNORANT.
It is a simple matter of numbers. Let’s break it down. First, the total United States federal debt held by foreign countries or organizations is about $4.45 trillion out of $9.5 trillion public debt or $14.1 trillion total debt . This information is publicly available by the United States Treasury as of January 2011. Second, China owns $1.1 trillion. It is the top holder. Japan comes in second with $0.89 trillion.
Its just math. Grade school math. China owns roughly 25 % of the foreign debt. Of the total debt, China owns roughly 8% of the total debt. Most? I guess 8% means most these days. Let’s not forget Japan come in at 6%. I’d say thats effectively equal ownership. This is just the continuing of China demagogy in American politics. Need a villian and can’t blame Muslims? Blame the Chinese. What’s sad is that this outright racist strategy works on the American people.
I’m sure politicians will say, “Well by most I meant largest owner of debt.” How stupid do you think I am. Let’s say a company is owned 50% by public stock. Now let’s say I own 10% of this stock. Even if no one else owned more stock with me, I do not own most of the company. According the American politician logic, I own the most stock and have great influence in the company. I own most of the company. …. what? No I don’t. I own 5% of the company. I may be the largest shareholder but most of the company is not owned by me. Being the largest owner of debt DOES NOT MEAN that most of the debt is owned by me.
I implore every American:
- Call out politicians out on this. Its straight numbers. Stop trying to mislead us.
- Strike back against racist political demagogy. Not just Muslim or Chinese but all backward prejudice thinking.
- Stop demonizing China. As far as I know, China has not attacked US. China hasn’t been involved in a proxy war with US since the Korean War.