US Gov’t has Mountains of Debt, owed to Foreign Countries
(February 20th, 2006 under Announcements)
A quote from The Standard's article:
Increasingly the United States is relying on the kindness of strangers to save it from going bust. In Japan's case, almost all of the government debt is owed to the Japanese people, not to foreigners. But US debt is increasingly in the hands of foreigners, who now hold trillions of dollars of it. Moreover, to pay for its spending sprees, the United States needs to import almost US$2 billion a day to pay for them.
and a link to the whole (depressing) article:
http://www.thestandard.com.hk/news_detail.asp?we_cat=9&art_id=12204&sid=6702481&con_type=1&d_str=20060217
Mike
This entry was posted on Monday, February 20th, 2006 at 9:38 am and is filed under Announcements.
