How can we owe CHina so much money?

This is the thing, I hear that We owe China billions of dollars well about 10 yrs ago China owed us just as much. SO did we just write it off, I know they didn't pay us back. SO what is the deal or is our gov lying about borrowing money?

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Asked by Anonymous at 3:41 PM on Nov. 25, 2009 in Politics & Current Events

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How did we get here?

Determined, concerted, deliberate effort to overspend year after year, ..

and at the same time bigger and bigger gov't passing taxes & regulations which smother innovation, which drive jobs AND entire businesses overseas, AND which block development of our natural resources.
So we have even LESS to export, and are forced to import more stuff which we used to get within our own borders - and which is still here waiting for permission to go back to using it.

If gov't stopped oppressing innovation and capitalism, America could surge back to prosperity within months.

Answer by waldorfmom at 4:08 PM on Nov. 25, 2009
Credits: 6815 Level 19 Politics & Current Events Minor

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If gov't stopped oppressing innovation and capitalism, America could surge back to prosperity within months.

As usual, I agree with Waldorf.

Answer by QuinnMae at 4:19 PM on Nov. 25, 2009
Credits: 122622 Level 40 Politics & Current Events Degree

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If gov't stopped oppressing innovation and capitalism, America could surge back to prosperity within months.

Well Said!

Answer by grlygrlz2 at 4:33 PM on Nov. 25, 2009
Credits: 103437 Level 38 Politics & Current Events Degree

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Once upon a time there was an election, and about 1/3 of the country voted for this one guy, while everyone else voted for this other guy or someone else or nobody at all, but unfortunately, 1/3 was enough votes to squeak by...

Answer by NotPanicking at 4:37 PM on Nov. 25, 2009
Credits: 193819 Level 45 Politics & Current Events Degree

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Yes so we owe China big deal they owe us as well.

You have no concept of macroeconomics, do you?

Answer by Anonymous at 5:09 PM on Nov. 25, 2009

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How can we owe each other? I don't follow, pinkdragon36.

Answer by Anonymous at 5:09 PM on Nov. 25, 2009

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Yes so we owe China big deal they owe us as well.

Ok this is my question how can we owe each other. I mean if I borrow $1000 from my mother, I don't loan her $1000, If i haven't paid her back yet. What I would do is give her the $1000 becuase I owed her.

So if China owed us money why isn't are we not breaking even. so they means we don't owe them any or as much money. right.
OR is it when comes to the gov. Its not so simple. Probably not.

Answer by sillyone2 at 6:02 PM on Nov. 25, 2009
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There were several deals cut around the globe during the Clinton Administration. He forgave the debts of a lot of countries to get deals with them. It happens a lot. They just don't forgive ours.

Answer by jesse123456 at 6:37 PM on Nov. 25, 2009
Credits: 82636 Level 36 Politics & Current Events Degree

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So if China owed us money why isn't are we not breaking even.

1) Clinton forgave most of what was left
2) What we've borrowed far FAR surpasses anything they owed us.

Answer by NotPanicking at 9:01 PM on Nov. 25, 2009
Credits: 193819 Level 45 Politics & Current Events Degree

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How many countries owe us money? Yes so we owe China big deal they owe us as well.

This, I would have posted anon! It is sad so many people don't realize how much trouble our country is in.

Answer by yourspecialkid at 10:37 PM on Nov. 25, 2009
Credits: 70204 Level 34 Politics & Current Events Degree

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