Has anyone asked this incompetent govt what its plan is should the Chinese decide to call in these debts? The US is clearly broke otherwise we wouldn’t be on the hook with China for $1.3 trillion. DC’s out of control spending is making Americans slaves to China.
Scarier figure is that the Fed holds $2.2 trillion in US debt. That means the US Treasury sold the debt and the Fed bought it putting the $2.2 into the money supply. More money in the supply devalues the dollar, which is why you pay more for things. This is the equivalent of taking money out of your right pocket and putting it in your left! The out of control spending is never going to end as long as you continue to keep career politicians in power.
This is wealth redistribution on a global scale…. the US gets poorer while China gets richer. Oh and the money China uses to buy the debt is printed on the same level as the Fed is printing money!