Copy the title of a WSJ article and paste it into Google's search bar. The first result (occasionally the second) will be a free pass for the entire article. Google and WSJ cut that deal a couple years ago.
borrowing 39% of our debt from sources other than ourselves is still a lot of money we have to repay
The rest of it is not entirely from foreigners, perhaps even a minority of it. But, in the end, it has to be repaid no matter who borrowed it. Lending it to foreigners rather than Americans has no economic effect.
In fact, printing the money to buy the debt is disastrously worse than foreigners' buying it with honest-to-goodness money that they've earned by producing tangible goods.
Foreign sources bought .9% (not 9%, point-9%) of our debt.
Lending it to foreigners rather than Americans has no economic effect.
The effect is when the money is paid back with interest to Americans instead of foreigners. That could be a good thing, assuming the administration in power at the time shows more regard for its bond holders than the current administration did for GM and Chrysler's bond holders.
In fact, printing the money to buy the debt is disastrously worse than foreigners' buying it with honest-to-goodness money that they've earned by producing tangible goods.
The administration doesn't care as long as it kicks the can down the road long enough to see it through the elections.