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Originally Posted by DEA
We could and would...if everyone paid us back...and still have plenty left over to lend back out  |
Ouch... man you are so far far away from truth... maybe it is time for you to do some google search...
USA public debt is around $7.9 trillion, i.e. $7,900,000,000,000 (>60% of GDP). Actually the big problem with public debt isn't amount because 60% of GDP is average, the big problem is that at the end of 2004, foreigners held 44% of federal debt held by the public...
The Bank of China holds some 610 billion dollars in US Treasury debt. Japan holds more, some 840 billions...
External Debt is around $5 trillion, i.e. $5,000,000,000,000... Of course this sum is biggest exteral debt in the world (i.e. China almost doesn't have external debt at all).
USA is the word biggest economy no doubt about that, but unfortunately that economy going down last 10 years...