What is this Chinese Loan the Big Dog was talking about?

[King Coal]

Did we borrow money to pay for the tax cuts?

[redqueen]

1. They finance a good amount of our debt

as do other countries. IIRC China does have the largest share.

[Justice]

2. National Debt

when have deficit, the government borrows money - that is debt. Debt held by many foreign investors/countries. Top four foreign holders, China, Japan, UK and banks in Caribbean (which means we don't know who)

[hatrack]

3. They buy our treasury instruments - in vast quantities

Along with Japan and the EU and others. We borrow money to pay for everything.

[Dirty Hippie]

4. Check out this post

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=114x10162

[NewJeffCT]

5. and this thread from earlier today...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=104x2087023

[faithnotgreed]

6. so few seem to realize we have to borrow $$$ for our huge deficit

this money comes from somewhere and no one in the public talks about where that money comes from and the real shoe thats going to drop on all our heads if this mess isnt straightened out somehow

other powerful countries have us increasingly in their grip.

thank you to bill clinton for working that in and getting some people to wonder what its all about...

[King Coal]

7. What you say is true.

Most of us believe that the debt is held by the general public. Not so, it is held by foreign investors.

[GreenPartyVoter]

8. They have us in their grip, and if we go down they all go down

or at least take a massive hit financially, hence the reason why they work so hard at shoring us up.