Well, wait no more! Here I am reporting for duty. Tell me again just why we should worry that China holds all that debt. You'll recall we didn't have to put up any collateral.
The national debt is a disgrace, I'll agree, but it matters not a bit who holds it.
Interesting take, since others think who holds the debt is the problem - China and Russia. See for the first time in recent history, we've allowed our military enemies to finance our deficit.
Why don't you think it matters who holds the debt?
That's easy - because we signed on the dotted line that we were good for it. (I certainly don't consider the lender who holds my mortgage to be a sucker.)
And, if you want to be purely mercenary and talk about enforcement...well, nobody's going to be happy with the results of that philosophy.
Oh, I see. We should just default and embarrass ourselves in front of the world.
I does not matter WHO holds it just that, as a nation built on honor and laws, that we repay it as promised.
There were many of us that used to decry the outsourcing of our debt to buy trinkets. A lot of them were banned or chased off. I still think giving China, a country that IS imperialistic, all that equity in our nation.