Who Owns Our National Debt?http://www.fool.com/investing/general/2012/12/11/who-owns-our-national-debt.aspx Morgan Housel
December 11, 2012
Former Sen. Alan Simpson has arguably done more to address our fiscal problems than anyone else in the last three years. He was co-chairman of the president's deficit-reduction committee, commonly known as the Simpson-Bowles budget plan. He's a good man on a good mission.
But he doesn't always get it right. Here's Simpson last week on The Daily Show with Jon Stewart talking about the fiscal cliff:
Time out. I like you, Alan, but let's get the facts right.
China doesn't own a quarter of our debt. It doesn't even own 10%. When the latest data comes out, it probably won't even be the largest foreign creditor. (That title will go to Japan.) China has actually been a net seller