Our National Debt is
$21 trillion. We fund this debt by selling Treasury Bonds to investors. Most
investors are US-based and fund 70% of the debt with $15 trillion in Bonds
purchased by underfunded pension plans, big dumb institutions and investors who
are tired of winning and want to waste their money on Bonds with a 3% return.
Other countries park
over $6 trillion of their cash in US Treasuries. China has $1.1 trillion and
Japan has $1 trillion.
The interest on the
debt is about $500 billion a year and is headed for $1 trillion a year.
Norb Leahy, Dunwoody
GA Tea Party Leader
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