Few debates over the U.S. government's debt situation fail to include the mention of China's "giant" ownership of U.S. Treasuries. But how clearly are the facts being presented?

In this segment of The Motley Fool's financials-focused show, Where the Money Is, banking analyst David Hanson is joined by Motley Fool One analyst Morgan Housel to discuss a few common misconceptions when it comes to China and its involvement in the U.S. debt market.