[ExI] USA now funds Chinese military

[BillK]

<http://www.sovereignman.com/expat/some-clear-thinking-on-the-debt-8569/>

If you haven’t heard yet, the United States of America just hit $16
trillion in debt yesterday. On a gross, nominal basis, this makes the
US, by far, the greatest debtor in the history of the world.
At an average interest rate of 2.130%, Uncle Sam will shuffle $340
billion out the door just in interest payments this year… and it’s a
number that’s only going up. To put it in context, China owns so much
US debt that the INTEREST INCOME they receive from the Treasury
Department is nearly enough to fund their entire military budget.
-------------------------


BillK