Breaking The Contract
by digby
Here’s a graph showing who owns the US debt:
42.1% US institutions and individuals
26% SS trust fund, civil service pension fund, military pension fund
22.4% countries other than China
9.5% China
I have an idea. How about we tell the wealthy US investors that we won’t be able to pay them back at the promised rate instead of the social security recipients? Let’s just see what happens.
Chart from Barry Ritholz via @JoshuaHolland