Did you know that China holds only 8% of our total debt?

Here is a list of foreign debt holders: http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt Foreign countries own 32% of our total debt. Another third is owned by the American public, and the final third is debt held by our own government, as in, one part of government owes another... show more Here is a list of foreign debt holders: http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt

Foreign countries own 32% of our total debt. Another third is owned by the American public, and the final third is debt held by our own government, as in, one part of government owes another part of government.

Theoretically, that intra-governmental debt could be canceled without any consequence. Our debt is greatly exaggerated by cons.
Update: For those who can't do the math, We owe China $1.152 Trillion divided by $14.3 Trillion = 8%
Update 2: Our total debt is $14.3 Trillion
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